In-debt Brit women opt for bankruptcy as way out

London, Sept 1 (ANI): British women have refused to tone down their spending even as they are 13 billion pounds in debt, and most say that they would chose bankruptcy as a way out.

Josie Stephens, 33, an admin assistant who believes in living the WAG lifestyle, is no stranger to overspending, and she has incurred debts up to 85,000 pounds.

When it comes to paying back, Stephens has decided to take the route so many women take.

"I'm just going to go bankrupt - it's so easy these days. It will clear all my debts and there are hardly any repercussions," the Sun quoted her as saying.

"Kerry Katona did it and even though she spent cash she didn't have, all her debt is now totally wiped clean.

"It's a brilliant option and means I can spend far more than I earn," she added.

The number of British women going bankrupt has risen tenfold in the past decade, and figures released by the Insolvency Service show that the biggest culprits are women aged 25 to 44.

Experts are putting the rise down to "irresponsible spending" of women trying to copy glamorous celebrity lifestyles and seeing bankruptcy as a "quick fix". (ANI)