BUSINESS
03/28/2008 02:45 am ET | Updated May 25, 2011

Broke Britain: Millions Face Struggle To Stay Afloat

Debt experts are predicting a record number of personal insolvencies this year as excessive Christmas shopping, rising mortgage payments and soaring food and fuel costs force thousands of people over the financial edge and into bankruptcy.

More than nine million individuals in Britain are now believed to be struggling to pay credit card bills and mortgages, with the average owed by problem debtors hitting £30,000.

Read more on The Independent