Sunday, May 08, 2005

UK Housing Timebomb as Personal Bankruptcies Rise

The number of people going bankrupt reached record levels in the first quarter of this year, official figures showed yesterday, highlighting the economic problems facing the new Labour government.

With consumer borrowing now standing at more than 1 trillio sterling, the recent rises in interest rates have led to a growing number of individual insolvencies -now 28% higher than a year ago.


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