 |
| LATEST LATEST LEGAL NEWS ARCHIVE |
LATEST NEWS & EVENTS Personal insolvency pockets identified  Personal insolvency rates are higher in certain pockets of British society, despite the number of bankruptcies falling across the UK as a whole, new research reveals. Traditional married, middle-aged consumer groups saw insolvencies increase in 2010, while welfare dependent groups saw bankruptcies fall, according to analysis from Experian. Young, single professionals and middle income earners, who constitute what Experian calls the New Homemakers demographic, had the second highest concentration of insolvencies in 2010. The central belt of Scotland is identified as one geographical personal insolvency pocket, with Glenrothes, Kirkcaldy and Livingston experiencing the highest concentration of bankruptcies. Simon Waller, head of collections at Experian in the UK and Ireland, commented: "While it is encouraging to see a small reduction in personal insolvency levels across the UK, there are certain sections of society that continue to face ongoing difficulties." He noted that the recession affected different people and communities at different times. Ed Bowsher, head of consumer finance at lovemoney.com, remarked that the overall drop in insolvencies was down to fewer people from the most disadvantaged sectors of society applying for bankruptcy. Posted by Paul Stevens 
Related Articles: 8/5/2012 - More companies fail as personal insolvencies fall 23/4/2012 - Landlords and insurers unite behind insolvency law reform 19/4/2012 - Enterprise Act 'does not need radical overhaul' 13/4/2012 - Retail insolvency rate up 15% as rent payments bite 28/3/2012 - Business insolvencies on the rise More Insolvency & Restructuring News |
|||
| © 2012 Lamport Bassitt | DEFAULT ZOOM | DISABILITY INFORMATION | LEGAL INFORMATION |