BusinessBusiness RecoveryHuge numbers considering insolvency

Huge numbers considering insolvency

Fresh increase in personal insolvencies expected this year

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
debts.

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.

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