Personal bankruptcies in the UK rose by 14% in the three months to June, with around 100 people becoming insolvent everyday.
The figures, from the Department of Trade & Industry, are the highest for the past nine years, sparking fears that consumers are increasingly loading themselves with unsustainable levels of debt.
Economists fear the rise in personal indebtedness could lead to a sharp slowdown in economic growth.
References: Financial Times 02/08/03 page 4, Daily Telegraph 02/08/03 page 27, The Times Business 02/08/03 page 1, The Independent 02/08/03 page 21
