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Consumers `lying about finances` Rise in bankruptcies revealed Scottish bankruptcies on the rise, new figures suggest Borrowers `accruing more debt before seeking IVAs` Bankruptcies `high in south-west` Landlord bankruptcy enquiries `on the up` 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

"Real danger" bankruptcy rates will continue to rise

06/05/2008

There is a "real danger" that the effects of the global credit crunch may mean many more Britons than normal will face bankruptcy in 2008, an industry expert has claimed.

As debt problems mount, personal debt - combined with tightened lending criteria - may mean more people than ever before seek professional debt advice during the remainder of the year, ADDIDI Wealth stated.

Anna Sofat, founder of the wealth management company, said that the financial industry was preparing for many cases of financial woe to occur in the next few months as the credit crunch continues to bite.

Ms Sofat added: "Last year there were already more people declaring themselves bankrupt or having voluntary arrangements with their debtors and I think that will increase this year."

Some Scottish house prices still rising 20/11/2008 - Amidst economic gloom and high levels of personal debt, house Energy suppliers biggest profits from poor 20/11/2008 - Consumer Focus, the new consumer watchdog, has claimed that energy Rise in bankruptcies and IVAs 20/11/2008 - There were 27,087 individual insolvencies in the third quarter of Supermarket price rises far above inflation 20/11/2008 - The latest inflation report from the Office for National Statistics