Following a record breaking VAT hike and an already expensive festive period, it’s apparently women who are due to face the biggest bill by February. Experts have warned that in 2011 record numbers of females will fall into the trappings of debt as figures show that last year 63,000 women went bankrupt.

Furthermore last week it was estimated that British shoppers will owe a staggering £150 million in credit card bills by February. Although it’s not always the fairer sex to blame, insolvency expert Mark Sands from accountancy form RSM Tenon believes 2011 will be a bad year financially for women. He explains “Spending habits and ­attitudes to debt have changed and there will be a long-term trend for higher female insolvencies.”

If you know you’ve overspent this Christmas then get a head start on your bills. Whether you’re male or female, Kensington Finance can help you. Offering a wide range of financial solutions, we aim to make you debt free by implementing services such as a debt management plan, debt consolidating or if all other options have been exhausted we can help you file for bankruptcy. Contact us today to see how we can work together to make your future debt free.