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Trebling of Londoners going bankrupt in two years: Burstow

June 22, 2005 5:09 PM

New figures revealed today by Liberal Democrat MP Paul Burstow show that the number of personal bankruptcies in London has almost trebled since 2002.

The information, revealed in a Parliamentary answer to Mr Burstow show that annual totals for individual bankruptcy orders has rocketed - from 1,457 in 2002 to 4,246 in 2004. The figures also reveal that they surged by 120% in the last year from 1,933 in 2003.

Paul Burstow, MP for Sutton and Cheam commented:

"These figures show that with personal credit rising, more people are continuing to stretch themselves beyond their breaking point.

"Ministers have buried their heads in the sand for far too long. With the level of consumer debt now over £1 trillion the Government must act to ensure that easy access to credit does not create a crisis for Londoners."

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