Spiralling levels of personal debt are becoming 'a potentially large social problem', the Bank of England governor warned yesterday.
In an unprecedented statement, Mervyn King pointed to a sharp rise in the number of calls for help to the National Debt Line. He said it was clear many families were now getting into difficulty with their [...]

UK consumers were yesterday informed of the "serious" implications of bankruptcy by the credit agency Experian.
Jill Stevens, director of consumer affairs at the company, warned that becoming bankrupt "is not an easy way out of debt".
She added that finding yourself insolvent would "probably mean you have to give up any valuable possessions you own".
Experian has [...]

New rules mean that your debts are wiped out after just a year - but your credit rating will be at rock bottom for a lot longer, warns Paul Farrow

Personal bankruptcies in Britain have surged to a record high with increasing numbers of graduates and professional workers overwhelmed by massive personal debts.
On Friday new figures [...]

AN INSOLVENCY expert in Huddersfield has blamed Britain's "spend, spend, spend" culture for the latest rise in personal bankruptcies.
Government figures show there were 23,351 individual insolvencies in England and Wales during the first quarter of the year - almost 13% up on the previous three months and 73% higher than a year ago.
Peter Sargent, the [...]

The number of people becoming insolvent has jumped by almost three quarters during the past year, Government figures have shown.
A record 23,351 people in England and Wales became insolvent during the first three months of the year, 73pc more than during the same period of 2005, according to the Insolvency Service.
Within this total, the number [...]

Nottingham Evening Post Via Thomson Dialog NewsEdge)High street banks and credit card companies in Notts could soon use a system to predict how likely someone is to become bankrupt.
A software package developed by Nottingham-based business information giant Experian could be used as part of their decision-making process.
It follows the increasing number of people declaring themselves [...]

THE number of personal insolvencies in England and Wales has risen by a dramatic 73.4 per cent in the first quarter compared with the same period last year, according to official figures.
As fears grow consumer borrowing may have spiralled out of control a total of 23,351 become bankrupt or entered into an Individual Voluntary Agreement [...]

First debt lost its stigma and now bankruptcy is losing its sting. Two years ago, some 45,000 people were declared bankrupt in Britain. In 2005, the figure topped 70,000. That easily surpasses the rate recorded in 1992, back when the UK economy was last in recession. And around 45,000 of last year’s bankrupts actually chose [...]