Yesterday saw a record number of bankruptcy cases recorded at the High Court.
One person was adjudicated a bankrupt every three minutes in the first half hour of the day's proceedings.
Unusually, most of the actions granted were brought by debtors, rather than creditors – despite the new Personal Insolvency laws which could help people avoid bankruptcy.
Some people, however, are choosing to declare themselves bankrupt - if, for example, they are unemployed or unable to earn off income.
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