Wednesday, January 5, 2011

TIS – “Britain’s pensioners are the fastest growing group of bankrupt individuals in the UK”

Pensioners are fastest growing bankrupt group

Britain's pensioners are the fastest growing group of bankrupt individuals in the UK according to the Insolvency Service.The Insolvency Service said although levels of bankruptcy among men and women aged over-65 were the lowest in the UK, the numbers of bankrupt individuals in this age group have increased six times in a decade and at a 50 per cent faster rate than for other age groups. In 2010, despite a slight drop, the number of people entering into formal insolvency procedures remained relatively high, showing that more needs to be done to encourage people to manage their money better, and where possible, to avoid insolvency.

Posted by jack c @ 12:23 PM (1239 views)
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4 thoughts on “TIS – “Britain’s pensioners are the fastest growing group of bankrupt individuals in the UK”

  • So let’s charge head-long into booming house-prices again, so we can bankrupt another generation when it all goes wrong – again.

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  • sibley's b'stard child says:

    …and pensioners are also the largest beneficiaries of SMI. Hurray for the profligate old biddies. Hang about, i’m getting cognitive dissonance here; the Daily Mail tells me that it’s the ‘yoof’ whom are feckless?

    The gays have the ‘pink pound’; perhaps these can have the ‘grey debt’?

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  • Lies, damned lies, and statistics. The “fastest growing” group is nearly always starting from a low base. Indeed, the article tells us that: “levels of bankruptcy among men and women aged over-65 were the lowest in the UK”.

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  • Well, if the banks stopped stealing pensions it might go a little way to help.

    Drat, that means the public would not see houses as investments and give us even more easy profits.

    Financial engineering, with a bit of help from cental banks. “We are all in it together.”

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