by Kay Murchie
Posted by Jenny Sutton
This young generation want the lifestyles of top celebrities on a low income which is displaying a reckless attitude to borrowing. This group of people do not see bankruptcy as shameful, but view it as means of escape from large debts amassed though buying trendy clothes, socialising and travelling to exotic destinations.
Back in the 1980’s bankruptcy was a mark of shame and a demonstration of failure. However, the study showed that a core minority saw debt consolidation and insolvency as easy ways out of problem debt.
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