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More Scots with extreme credit card debts, charity reports Govt actions `could lead to debt for pensioners` Middle-class families in south-east `most in debt` Scottish bankruptcies double BBC Scotland looks at effects of debt on health Scotland avoids house price decline Optimism for Scottish economy Demand for staff in Scotland highest in UK Scots `faring better from credit crunch` Scottish markets "remarkably robust" Crunch `affecting Scottish consumers worse` Scots `feel inflation to be 8.4 percent` Scots calm as UK `goes switching crazy` Scottish house prices `dropped at end of 2007` Debt problems grow for Scots as bankruptcies soar Scots `positive` over new year debts Generous Scots spreading festive cheer Areas of Scotland `most indebted in the UK` Scottish house prices soar Tax changes `could force more towards bankruptcy`

Young and old `declare record bankruptcies`

14/09/2007

The number of young and retired Scots declaring themselves bankrupt has doubled within the last two years, new statistics show.

In the last financial year, 157 under-25s and 105 over-65s were declared bankrupt, official statistics from the Institute of Chartered Accountants of Scotland (ICAS) have revealed. In 2004-05, those figures were 79 and 46 respectively.

Experts believe the rise demonstrates that personal debt, which has risen to record levels in the UK, is having a disproportionate effect on the lowest-earning age groups.

Anne Bryce, director of insolvency at ICAS, said: "More students are taking on loans and the rising cost of getting a foot on the property ladder means that under-25s are finding it harder than ever to stay afloat. Underpinning all of this misery is irresponsible lending and pushy advertising by unregulated debt consolidation companies."

According to a YouGov poll, 8.2 million British adults are in serious debt and 2.1 million are struggling with debt repayments.

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