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Female bankruptcies soar

28/07/2010

The number of British women going bankrupt has risen almost fivefold in the past 10 years, with new figures revealing a 28 per cent increase in the past year alone. New figures from the Insolvency Service show that women now account for 40 per cent of all bankruptcies, rising from 6,042 in 2000 to 29,680 in 2009. Younger women are finding it particularly difficult to manage their money, with those between the ages of 25 and 44 making up almost two-thirds of female bankruptcies. In 2009 17,595 declared themselves bankrupt, up from 13,575 in 2008. A desire to emulate celebrity spending and glamour among young women is said to be the reason behind the rise.

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