Men more likely to become insolvent

10/03/2010

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Men more likely to become insolvent

Men are more likely to become insolvent than women.

That's the finding of the Consumer Credit Counselling Service (CCCS). It has released its insolvency figures according to gender.

They show there are higher rates of bankruptcy and Individual Voluntary Arrangements (IVA) among men. Over half of IVA and bankruptcy recommendations made by the charity last year were for males.

According to the charity, single men owe on average nearly £20,000 pounds (£19,180). That's 17 percent higher than for single women.
CCCS spokeswoman Frances Walker said the figures were a concern and should be addressed.

"Whatever sex you are, I would urge anyone worried about their debt to seek help as soon as possible." ADNFCR-3106-ID-19660384-ADNFCR

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