Blowin Cheese

We all know about the credit crunch. We also know about the effects it is having on the global economy. We would expect, from the goings-on, that bankruptices would be on the increase almost immediately. Apparently not. We are seeing many financial issues taking their time to filter down to the person on the street, let alone the sheer will-power of said person on the street, to try and stay away from bankruptcy for as long as possible.

There is always a lag between a failing economy and an increase in number of bankruptcies - we will probably be seeing this higher figures soon. We will probably also see a continued rise, even after the economy begins to recover. Trust deeds in Scotland should also increase (the equivalent to bankruptcies in England).

The only advice being thrown at us left right and centre, is to seek professional debt advice if we are anywhere near having to think about declaring ourselves bankrupt.