About half the increase is due to last year's three interest rate rises, which added almost $200 a month to repayments on a $400,000 loan. Mr Gallagher said bankruptcies had risen 12.5 per cent in the nine months to March."You could go back 10 or 15 years, when bankruptcy numbers were 13,000 a year, and now they are 30,000 a year," he said.

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