By David Hargreaves
They are young, footloose, fancy-free…and broke.
The latest credit figures from illion (formerly Dun & Bradstreet) have shown a sharp rise in the number of people under 25 in this country filing for bankruptcy.
And it’s a rise that is occurring at a time when the overall bankruptcy figures are falling.
According to illion, in the 12 months to June 30 there were 207 people aged between 18 and 24 that filed for bankruptcy in New Zealand.
That was an increase of 66.9% on the figure for a year earlier.
As recently as 2014 there were less than 20 people in that age group who filed for bankruptcy.
This means that the figure has increased 10-fold in just four years.
illion CEO Simon Bligh said whil…
Read the full article at: https://www.interest.co.nz/business/95712/latest-figures-show-sharp-rise-number-under-25s-country-declaring-bankruptcy