ThisisBigBrother.com - UK TV Forums - Kerry Katona branded “bankruptcy role model”

http://www.chilterndebtmanagement.co...cy-role-model/

Quote:

The reality TV star Kerry Katona has been branded a “bankruptcy role model” by personal finance experts concerned about the amount of women facing debt problems at present.

Earlier this month, the accountancy and advisory firm RSM Tenon published figures showing that female bankruptcy figures for women aged 18 to 35 have overtaken those of men for the very first time. As many as 14,827 went bankrupt in the second quarter of this year and as it stands, women now account for a total of 48 per cent of all personal insolvencies, a figure that has never been so high.

Mark Sands, who is head of personal insolvency at RSM Tenon, said that a number of things could be to blame for this unexpected rise in personal bankruptcy figures for women. However, he accused bankrupt reality TV stars such as Kerry Katona for inspiring more women than ever before to let themselves go bankrupt through reckless spending and poor money management.

Mr Sands said:

“People blame female money troubles on almost everything from a culture of consumption to alleged ‘bankruptcy role models’ such as Kerry Katona.

“Spending habits and attitudes to debt have changed over the past generation at the same time that women have achieved ever greater levels of financial independence.

“As women become more and more independent, lenders see them as a more and more lucrative market.

“There’s an element of truth that the offer of buying handbags with pricey store cards is sending more and more women bust.”

There's no such thing as a free lunch ..... ;)