Payday Loans
Nation of Bankrupts?
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By jane conlen
UK becoming a ‘nation of bankrupts’
Figures from the government are expected to show a record number of people declared themselves bankrupt this spring.
Financial services group KPMG predicts the number of people who went into insolvency in England and Wales between April and June rocketed to 27,000.
That is the highest figure ever and well above the 15,645 in the same period last year and the 23,351 who went through the courts between January and March this year.
And KPMG believes the total number of people going bankrupt in 2006 will exceed 100,000 for the first time - the equivalent of one every minute of the working day.
And they come in a week when the major high street banks reported soaring levels of bad debts in the UK as Britons struggle to pay off credit card bills and loans.
HSBC said bad debts at its UK retail banking arm rose from
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