anyone know why shares have dropped when IVA`s and bankruptcies are rocketing upwards?

The last set of figures I saw put the UK by far the highest debt in Europe, including c/c debt. If I remember the UK debt equalled the rest of the EU.
True, interest rates are high but people still take out the loans etc. True again that the charges for non payment and defaulting is high but again that`s in the contract.
The UK government is loath to interfer in this area since they feel it will drive debt underground to the loan sharks - and they still exist. The highest interst rate I`ve seen is 367% - and still no legislation
There is a line of thought that says when IVA and Bankruptcies are common place and get people out of debt, they would take out more credit?