The latest figures from the Department of Constitutional Affairs (DCA) show that bankruptcy cases continue to rise in number, with court petitions up 10% in April to June 2006 compared to the same period in 2005.

Over 15.5k people were the subject of bankruptcy petitions during the period, with the numbers of voluntary bankruptcies rising by 20%. Numbers of people being forced into bankruptcy by creditors actually fell by 10%, lending further weight to the idea that people are increasingly using bankruptcy as an ‘easy’ way out of their debts.

Changes in the law mean that a personal bankruptcy can now be discharged in as little as 12 months, and the likelihood of being able to keep your home throughout a bankruptcy is now much higher, both of which have lessened some peoples reluctance to declare themselves insolvent.

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