- Tuesday, 5 May 2009Author Denis MacEoin has declared bankruptcy, reports the Sunday Sun, in a hearing at Newcastle county court.
The novelist - best known for his works written under the pseudonym of Daniel Easterman - was reportedly filing for bankruptcy in the weeks before his latest work went on sale.
However, the Sunday Sun notes that his case notes allow for him to continue his work as an author, with an automatic discharge expected to be granted in March 2010.
Mr MacEoin could be just one of many Britons to file for bankruptcy - or look to alternatives such as
IVA solutions - in the coming weeks.
The Sunday Sun reports that figures from insurer Axa placed more than a quarter of Britons in some form of financial risk for which
IVA solutions or filing for bankruptcy might become necessary.
In the report, published in December, Axa claimed that 11.6 million people in the UK are facing untenable repayments on debt, a lack of any form of savings or other financial obstacles.
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