UK: Credit Boom Leads To Rise In Bankruptcies
Andrew Ellison reports for the The Times on a forty percent growth in the number of personal bankruptcies in the UK during the last quarter of 2005.
Steve Treharne, head of personal insolvency at KPMG, said: "The bankruptcy bubble is getting bigger but seems unlikely to burst for some time yet. The levels and availability of credit have been increasing for some time and recent figures from the Bank of England show that this trend is continuing. The more people incur credit, it is inevitable that this will be followed by increases in personal insolvencies."
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