WHAT DOES GOING BANKRUPT MEAN?
London 31st May 2007 – Can a local council make an individual bankrupt for not paying their council tax? Will anyone know if you have gone bankrupt? Does it show on your credit file? Will it affect your ability to get a job? According to the latest report, last year saw another steep rise in the number of people that had county court judgments registered against them, with nearly 850,000 consumers having CCJs registered. As more and more consumers are incurring these judgments, many will see bankruptcy as an easy way out. At the end of 2006, for the first time in the UK, more than 100,000 people had declared themselves bankrupt. Government figures also show that 15,356 people bankrupted themselves and 11,299 agreed an IVA in Q1 2007. Equifax, the instant online credit information provider, is concerned that many consumers do not understand the implications of going bankrupt, thinking that it¿s simply an easy way out of debt with no real consequences. “The 2002 Enterprise Act meant a ba
