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WALES: Bankrupt pensioners 'double'.

THE proportion of pensioners going bankrupt has more than doubled during the past five years, figures showed yesterday.

Around 7% of all people going bankrupt in 2007 were retired, up from just 3% in 2002, according to accountants Wilkins Kennedy.

The research was based on a sample of 1,250 bankrupts across England and Wales.

The accountants firm warned the trend was set to continue as increased life expectancy put a greater strain on the limited savings pensioners had, while rises in food and fuel prices put their finances under further pressure.

A total of 113,445 people were declared insolvent during the year to the end of June, up from just 30,587 people who became bankrupt or took out an individual voluntary arrangement in 2002 - nearly a fourfold increase.
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Publication:Daily Post (Liverpool, England)
Date:Oct 1, 2007
Words:131
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