With the economy in the doldrums for years and unemployment at a record high, Japanese are racking up debts, falling prey to loan sharks and declaring bankruptcy by the thousands.
Individual bankruptcies soared fivefold in the last five years to more than 214,600 in 2002, up 34 percent from the previous year, the Supreme Court said. And experts say the nation's culture of shame about debts and overall ignorance about the law are a big part of the problem.
"Japanese feel it's an obligation to pay back money they've borrowed," said Shigeki Kanamori, who gives legal advice to people struggling with loans gone sour. "They're determined to pay it back even if it kills them."