Bankruptcies, suicide rise as Japanese struggle with mounting debt

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Bankruptcies, suicide rise as Japanese struggle with mounting debt - Business Standard

Quick Summary:

Take the case of a Tokyo-based medical worker who filed for personal bankruptcy last year after her consumer loans reached about ¥11 million.

While Japan is by no means alone in confronting a debt problem, salaries are the lowest of Group-of-Seven countries, and the central bank is raising borrowing costs while its peers cut them.

Officials from the FSA have warned that young people without stable incomes are vulnerable and can fall into arrears for years, especially if they take on debt without planning.