10,000 people a month face insolvency - papers 3 Jan

Accountancy experts are forecasting a record number of personal insolvencies in the first three months, after a year in which bankruptcies and similar arrangements soared above the 100,000 mark for the first time. Financial advisers say the figures point to the emergence of a generation who take debt for granted and for whom bankruptcy has lost its stigma, reports the paper. Grant Thornton, the financial adviser, forecast 30,000 personal insolvencies would be filed in the first three months of the year, of which a third would be as a result of excessive Christmas spending. BUSINESS...