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£1.4 billion bad debt written off

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Published Date: 29 December 2006
A RECORD £1.4 billion of bad debt was written off by creditors in 2006 as a result of individual voluntary arrangements (IVAs), according to figures released today.
Professional services firm KPMG estimated that this year saw around 110,000 people become insolvent - the first year the total has broken the 100,000 barrier.

Of those, around 45,000 people opted for an IVA as opposed to bankruptcy.



The full article contains 96 words and appears in Edinburgh Evening News newspaper.
Page 1 of 1

  • Last Updated: 29 December 2006 10:03 AM
  • Source: Edinburgh Evening News
  • Location: Edinburgh
  • Related Topics: Consumer debt
 
1

bill, england,

29/12/2006 13:55:59

I hope these people are not allowed to take out loans ever again; we've bailed them out once, that's more than enough. Crooks.

2

Messalina,

29/12/2006 17:36:09

You think they could write mine off?? Please???


 

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