Home > News > Bankruptcy

Increase in bankruptcy figures for another CAB Bankruptcy "best option" for some households 90% "choosing to `jump before they were pushed`" R3: Bankruptcies and IVAs to rise over next 12 months Insolvencies rise for automotive companies Fuel price hike sparks bankruptcy fears London bankruptcies have "quadrupled" Government department identifies fall in bankruptcy levels Insolvency figures `hide true extent of debt problems` "Real danger" bankruptcy rates will continue to rise Young workers `facing bankruptcy through overspending` Archbishop reveals "concern" over credit crunch South-west `has highest rate of bankruptcies` Bankruptcy ruling is overturned Repossessions `can happen quickly` People seeing bankruptcy as "easy way out" Generous Brits `using cards to give to charity` Bankruptcy rates `soar` in Wales Voluntary schemes `offer alternative to repossession` Scots parliament passes new bankruptcy rules

Archbishop reveals "concern" over credit crunch

28/04/2008

The growing numbers of people who file for bankruptcy due to spiralling debt problems have been given support by the Archbishop of Canterbury.

In an interview with BBC Radio, Dr Rowan Williams claimed that many people were forced into financial difficulties due to easily available credit and the promotion of a spending culture.

Rev Williams - the spiritual leader of the world`s 77 million Anglicans - said that he was concerned that so many people were applying for bankruptcy and that the effects of the credit crunch may continue for years, Reuters reports.

He added: "My immediate concern today is looking at the bottom of the ladder and the way in which the credit crunch impacts so disproportionately on the most disadvantaged."

According to figures from the Insolvency Service, 106,645 people applied for bankruptcy or an Individual Voluntary Arrangement during 2007.

Increase in bankruptcy figures for another CAB 26/08/2008 - In the latest in a string of local Citizens Advice Holidaymakers "complacent" about cards 26/08/2008 - People who use credit and debit cards abroad are Home buyers `should find out future values` 26/08/2008 - People looking around for a mortgage have been advised to Half the population "worse off than last year" 22/08/2008 - The credit crunch has struck the majority of people in