The latest figures on debt in Scotland show that things are no better north of the border with debt help companies still experiencing brisk business.
The numbers show that 1,606 Scots were sequestrated (made bankrupt) in the second quarter of the year, which represents a 23 per cent rise from the same period in 2006.
A leading financial analyst blamed credit providers, stating: "You have bank salespeople promoting products and sending out junk mail without thinking of what happens when it goes bad."