‘Bankruptcy booming’ in Greater Manchester

Official government figures demonstrate that a full 58 per cent more people declared themselves bankrupt in the area during 2006 than did in the previous year, reports the Manchester Evening News.

The increase equates to a total of 163 additional people who were unable to avoid bankruptcy in the region.

But such rapidly rising statistics are not remarkable and such trends can be seen around the country, Paul Bateman, a spokesman for the accountancy firm KPMG, told the paper.

“National figures are quite similar. The number has shot up, driven in part by aggressive advertising by debt advice companies and an increase in the number offering this service,” Mr Bateman is quoted as saying.

KPMG was formed as a result of a merger in 1987 and offers auditing, tax and advisory services through its 22 offices around the UK.