Bez Declared Insolvent Again For The Second Time

It has been revealed that Former Happy Monday's dancer, Bez has been declared insolvent once again.

According to recent reports, the Celebrity winner of most popular show Big Brother was most recently declared bankrupt at the High Court. It has been pointed out that his entry in the Bankruptcy Register announces him to be a "journalist and musician."

According to figures from the Insolvency Service, Bez, 43, whose real name is Mark Berry, joins another 25,265 Britons who were declared bankrupt officially. The service revealed that this included 15,651 bankruptcies and 9,614 IVAs (Individual Voluntary Agreement).

Bez was first announced insolvent in August 2004. He entered Celebrity Big Brother a year later and expressed his wish that the £50,000 prize that he received as winner would help him to get rid of the burden of debt.

After he left the Big Brother house, he told reporters: "I have got bankruptcy on my case, all sorts going on. Now I can just pay my bills and can live in a debt free environment."

He added that "I was stuck by the great troublesome situation of debts. Now I have bailed out and I am forever grateful".

Most financial experts agree that the alternative of insolvency is an extreme one that should only be used as a last resort. More people are now applying for an IVA, which allows them to make long-term agreements with their creditors to reduce the burden of debts.

Ann Robinson of financial comparison website uSwitch.com warned, "Bankruptcy has a serious impact on people's credit standing and their capability to borrow funds in the future.

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