Friday 19th of November 2010
Individual voluntary arrangement questions may be asked by more Brits following one expert's comments that the number of people becoming insolvent is on the rise.
Jasmine Birtles, founder of Moneymagpie.com, said in real terms the level of indebtedness in the UK has increased and will go up further next year.
"Bankruptcy is much higher [among women] largely because women tend to be the primary carer of children when a relationships folds," she added.
She noted that on the whole the number of women becoming personally insolvent is much higher than the amount of men, despite males being likely to spend more money than females.
Earlier this month, statistics published by Wilkins Kennedy found that the amount of women recording bankruptcy between the ages of 35 and 54 rose by more than a third last year.
The study revealed more people entered a financial crisis in this demographic than any other.
By Chris King
