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Bez Bankrupt for the Second Time
Former Happy Mondays dancer, Bez has been declared bankrupt once again, it has emerged.
Recent reports revealed that the Celebrity Big Brother winner was most recently declared bankrupt on 31 March at the High Court.
His entry in the Insolvency Register declares him to be a "journalist and musician."
Bez, 43, whose real name is Mark Berry, joins another 25,265 Britons who were declared officially insolvent by 31 March, according to figures from the Insolvency Service.
The service revealed that this included 15,651 bankruptcies and 9,614 IVAs (Individual Voluntary Agreement).
Bez was first declared bankrupt in August 2004. He entered Celebrity Big Brother a year later and expressed hope that the £50,000 prize that he received as winner would help him clear debt.
After he left the Big Brother house, he told reporters: "I've got bankruptcy on my case, all sorts going on. Now I can just pay my bills and walk straight with no stress."
He added: "I was in a great deal of trouble. Now I've bailed out and I'm forever grateful."
Most financial experts agree that the option of bankruptcy is an extreme one that should only be used as a last resort. More people are now opting for an IVA, which allows them to make long-term agreements with their creditors to reduce debts.
Ann Robinson of financial comparison website uSwitch.com warned, “Insolvency has a serious impact on people’s credit histories and their ability to borrow in the future.
“If you do fall into trouble, don’t ignore it – get advice.”
IVA News posted on 10 July 2008
