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Debt in Swindon `on the rise` New debt management option "a positive step" Consumers `should get advice over IVAs, bankruptcies and DROs` Women `less likely to file for bankruptcy` Councils `filing for bankruptcy for those who fail to pay tax` Consumers lying about finances Rise in bankruptcies revealed Scottish bankruptcies on the rise, new figures suggest Borrowers `accruing more debt before seeking IVAs` Bankruptcies `high in south-west` Landlord bankruptcy enquiries `on the up` Increase in bankruptcy figures for another CAB Bankruptcy "best option" for some households 90% "choosing to `jump before they were pushed`" R3: Bankruptcies and IVAs to rise over next 12 months Insolvencies rise for automotive companies Fuel price hike sparks bankruptcy fears London bankruptcies have "quadrupled" Government department identifies fall in bankruptcy levels Insolvency figures `hide true extent of debt problems`

Missed credit card repayments `soar`

30/01/2008

An estimated five million credit card customers have missed payments on their bills over the last six months, according to a new study.

Research from MoneyExpert has found that 11 per cent of people with a credit card have missed payments since July, with an increasing number looking at applying for bankruptcy.

The figure compares unfavourably to the previous six months, when nine per cent of credit card holders missed their payments for a variety of reasons.

Sean Gardner, chief executive of MoneyExpert said: "Debt worries have shot up the agenda as people start to count the cost of the UK`s borrowing spree over the past few years.

"The effect of a payment can last as long as three years on your credit file and it will be used by firms to decide whether they’re going to lend you cash and what they’re going to charge."

The average UK consumer has debts of £4,700 on credit cards, motor finance deals and overdrafts, according to Credit Action.

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