|
News Index
Next
Previous
One million consumers are likely to declare themselves bankrupt or take out an
Individual Voluntary Arrangement according to a survey commissioned by debt
consultancy firm Thomas Charles.
The statistics from the survey suggest that the recent insolvency figures from
the Department of Trade and Industry are the tip of the iceberg, with the firm
estimating that the 78,000 insolvencies recorded last year will soon be several
times higher.
While 21% of adults with unsecured debt of over GBP10,000 or over have
difficulty repaying their debts every month, this increased to 33% for separated
and divorced people.
When asked what the overriding reason for having such high levels of unsecured
debt was, 23% of the respondents admitted to overspending.
James Falla, Director of Thomas Charles, explained: "The rise of the 'credit
junkie' phenomenon and the 'spend, spend, spend' culture is a long term issue.
It needs addressing at grass roots level and that means via the educational
system."
Source:
Getting Paid
|
