Debt-ridden Sussex is increasingly turning to bankruptcy as a "soft option", financial experts warned.
Worthing-based insolvency company NancollasGreer says Sussex, which has some of the highest levels of debt in the country, is increasingly reliant on bankruptcy.
But it has warned changes to the law in 2004 which greatly reduced the normal period of bankruptcy available has made it a risky option.
Sarah Nancollas said: "The fact so many people are choosing to declare themselves bankrupt is very worrying indeed.
"The view of bankruptcy as an easy way out of debt and an opportunity to wipe the slate clean is certainly more perception than reality in many cases."
A company spokesman said: "Almost two years on and in light of record increases in personal insolvencies in the region it is clear Sussex residents still consider bankruptcy to be an easy way out of debt."
Friday, March 10, 2006
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