Steep Rise in Under-30s Bankruptcy
Bankruptcies in the under-30s almost doubled in 2 years
12th June 2005
New figures have highlighted a steeply rising number of bankruptcies among the UK's under 30s.
According to official figures from the Insolvency Service, analysed by PricewaterhouseCoopers, 15% of personal bankrupcies in 2003-2004 were by people under the age of 30, which is almost double the figure of 2001-2.
Women are also becoming more likely to declare bankruptcy - while men still account for 2 out of 3 insolvencies, the number of women going bankrupt has risen 45% over the period.
Figures for personal bankruptcy are currently at a 40 year high, a situation most analysts put down to record levels of consumer debt coupled with the recent rises in interest rates.
Read More: BBC Report
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