Twenty percent of those people who owe more than £10,000 on their credit
cards are considering declaring themselves insolvent, a new study has found.
Debt consultancy Thomas Charles uncovered this startling statistic following
its latest survey, which showed a significant increase on findings in March when
just one in seven said they were considering insolvency.
Over the last two years the level of personal insolvencies has been rising
and this survey suggest many more people are having difficulty repaying their
The government will reveal on Friday the latest UK insolvency figures, which
are expected to show a fresh increase.
More than 2,000 UK adults were interviewed by YouGov, on behalf of Thomas
Charles, for the survey.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies