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Number Of Bankrupts Hits Record

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The accountancy firm KPMG said the average person going bankrupt owed £46,587.

Nightmare!

Edited by DoctorJ

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ouch...

The Ministry of Justice said the total number of self-imposed bankruptcy petitions hit a new high of 54,536 - or nearly 150 a day - during the 12 months to June. From April to June, 13,384 people petitioned for bankruptcy, an increase of five per cent on the same period last year.

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Guest Charlie The Tramp

Bankruptcy Stats back to 1995

Stats

It is predicted by the end of this decade alone ONE MILLION people will have passed through the Bankruptcy Courts.

It`s interesting to go through the Daily 200 bankruptcy orders published in the London Gazette ( see the link in my sig )

Note their Occupations as given. ;)

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Bankruptcy Stats back to 1995

Stats

It is predicted by the end of this decade alone ONE MILLION people will have passed through the Bankruptcy Courts.

It`s interesting to go through the Daily 200 bankrupt orders published in the London Gazette ( see the link in my sig )

Note their Occupations as given. ;)

interesting - did the number of debtor bankruptcies begin its 'log phase' (~2003) when regulations were relaxed?

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Bankruptcy Stats back to 1995

Stats

It is predicted by the end of this decade alone ONE MILLION people will have passed through the Bankruptcy Courts.

It`s interesting to go through the Daily 200 bankrupt orders published in the London Gazette ( see the link in my sig )

Note their Occupations as given. ;)

Interesting pdf. The places with the biggest rises are East Midlands +21% and North East +22% (2007 Q2 YOY).

Also that the Q1 2007 is a revised figure. Do they get revised every quarter? I haven't been reading them every time they come out.

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Guest Charlie The Tramp
interesting - did the number of debtor bankruptcies begin its 'log phase' (~2003) when regulations were relaxed?

There is the nail on the head. :D

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The Ministry of Justice said the total number of self-imposed bankruptcy petitions hit a new high of 54,536 ...

Since when have we had a Ministry of Justice? It sounds like the kind of sinister organisation you would come across in Kafka or Orwell, which would be exactly the opposite of what it's supposed to be.

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The Ministry of Justice said the total number of self-imposed bankruptcy petitions hit a new high of 54,536 - or nearly 150 a day - during the 12 months to June.

Its odd that this news comes from the the 'Ministry of Justice'. I am even more surprised that the 'Ministry of Truth' has not intervened to block this announcement.

Edit: A bit of an overlap. I started writing this before I saw Scunnered's email.

Edited by dog

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Its odd that this news comes from the the 'Ministry of Justice'. I am even more surprised that the 'Ministry of Truth' has not intervened to block this announcement.

IMHO the last properly named government dept was the War Office. Since it was rebranded I dont think there is a single government organisation whose title describes its true function. :angry:

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There is the nail on the head. :D

Indeed the Enterprise Act made bankruptcy more paletable. HOWEVER IMHO it is the changed attitude to indebtedness that is the key. Attitudes towards the stigma of bankruptcy had changed well before the Enterprise act.

It's also relevant to look at the falling purchasing power of real wages and the increased cost of living especially house prices.

Many people have subsidised their lving standards through credit cards and MEW. This has taken up the slack. All's well until the credit runs out or house prices drop and the MEW tap is turned off. Then people have to face the reality of their situation.

What we are seeing now is just the tip of the iceberg.

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Since when have we had a Ministry of Justice? It sounds like the kind of sinister organisation you would come across in Kafka or Orwell, which would be exactly the opposite of what it's supposed to be.

YUP.been in effect as the last dregs of toxic tony's reign.

not that I hold too much faith in GB either,but at least the guy has made moves to get rid of SOME of the crap policies.

...He's still in his honeymoon,and we're still watching him.He ain't out of the woods yet.

In truth,not a bad start as PM....unlike dave who is moulding himself into tory blair.

...but it's a marathon not a sprint.....and as far as I can see NONE of the mainstream parties offer what the public wants.

The party that capitalises on this niche in the market,tells it like it is and does it's job of representing THE PEOPLE THAT ELECT THEM,not bankroll them....will gain some serious traction.

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A record number of people asked to go bankrupt over the last 12 months, official figures showed yesterday - and debt experts have warned that the situation will get worse.
The Ministry of Justice said the total number of self-imposed bankruptcy petitions hit a new high of 54,536 - or nearly 150 a day - during the 12 months to June. From April to June, 13,384 people petitioned for bankruptcy, an increase of five per cent on the same period last year
.

The miracle truly has become a nightmare for a lot of people! Great Crash 2 will be vicious and show mercy.

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