A leading financial analyst has foretasted that bankruptcy figures will grow as a consequence of people losing their savings as interest rates continue to rise.
The TDX Group - the UK’s leading debt management solution provider - has released the TDX Debt Index for Q1 2007 and a spokesperson for the group commented: “The impact of recent interest rate rises on disposable income is likely to have been a key driver of the Index’s continued increase with consumers preferring to reduce saving rather than spending and we expect conditions for creditors to continue to worsen.”