Sunday, May 07, 2006

Personal Insolvencies Jump 73%

The Times: Record numbers go bankrupt as debt mountain builds up

It is now easier for people to declare bancruptcy than to pay down debt -- now this ball is rolling it is going to be hard to stop with "accountants predicted that the number of personal bankruptcies will top 100,000 this year". This is with historically low interest rates, this can only get worse with the global credit squeeze already under way.

Posted by Gary Duncan, Economics Editor @ 11:22 AM (605 views)
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