Scots debt peaks to the highest
26/04/2007
Shocking figures revealed today
showed that a number of Scots were going bust and figures have
reached the highest yet.
Up to 400 people each week are making
themselves bankrupt as loan
companies and banks get strict on customers who are struggling
with finance.
Recent data shows that 3860 Scots met
financial turndown during the start of 2007, 59 of them working
class people were starting large debts
on credit cards.
Nearly 2251 Scots were told to register
for Protected Trust Deeds status; this is a repayment plan with
creditors who are there to manage their debts and this is figure
rising 20 per cent each year.
Credit
Card holders who used the cash to fund holidays, home renovations,
clothes and cars are now in a situation.
PKF Financial advisers, measured data
from Edinburgh Gazette, mainstream for bankruptcies, data showed
that the main result of indefensible levels of debt
was via credit cards.
Corporate recovery partner, Bryan Jackson,
commented: "What these figures indicate is that there is
no end to the personal debt
problem in Scotland.
"We're continuing to see record
numbers of people undertaking the ultimate action of declaring
themselves bankrupt or having it forced on them by creditors.
Bryan added, "the Scots love affair
with debt has now spiralled completely out of control."
A spokesman commented: "Many
households are only a couple of pay packets away from their loans
or credit turning into unmanageable debt."
