Personal bankruptcies have soared in the decade since the recession of 1991, according to ITSA figures. In 1988-1989 there were 7,435 but by 2002 the number had risen to over 24,000. Insolvency firm Prentice Parbery Barilla believes the rise in bankruptcies is due to the increase in credit card debt. ITSA says although the high-flyers are the most-noticed bankrupts they account for only about 5 per cent of the total. Most bankrupts are in poor circumstances with unemployment being the major factor. More men than women become bankrupt and, although the popular perception is that the young run up huge debts, people aged under 25 accounted for only 11 per cent of those declared bankrupt in 2002.