Personal debt rises to £1.6tn as record number of households turn to bankruptcy deals
At least 70% of UKs population are broke, says a study.
Photograph: Adam Gault/Getty Images
The number of people who went brankrupt in 2017 soared to the highest level since the aftermath of the financial crisis, according to official figures that reveal the devastating toll of mounting debts on British households.
The Insolvency Service said 99,196 people were declared insolvent in 2017 a 9.4% rise on the year before and only a shade below the peak figures recorded during the recession.
Record numbers of households are turning to bankruptcy-lite debt deals called individual…
Read the full article at: https://www.theguardian.com/money/2018/jan/26/uk-insolvencies-at-highest-level-since-2008-financial-crisis
