RSS feedsAlmost 30,000 individuals are set to become insolvent in the first quarter of 2007, almost 10,000 of them as a result of excessive Christmas spending, Grant Thornton has said.
There were a record number of personal insolvencies in 2006, set to hit 100,000 for the first time ever.
Mike Gerrard, head of GT's personal insolvency practice, said: 'I think insolvencies will carry on rising for a while yet, although they may well start to plateau at the end of this year. Some people have been struggling with debts for a while and excessive spending at Christmas could push them over the edge.'
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