FT: Scots to face bankruptcy explosion
FT: Scots to face bankruptcy explosion Scotland will face a flood of consumers declaring themselves bankrupt as newly introduced laws allow people to write off their debts for just £100, experts have warned. With many Scots struggling to cope with the impact of the credit crunch, experts predict a deluge of personal bankruptcies in the coming months. Nick Robinson, chairman of the Scottish Independent Insolvency Practitioners, said while the new rules on bankruptcy were well-intentioned, they were likely to be “exploited” by many facing a mountain of personal debt.
Original post by jack c
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