So, there is life after debt

It's the hottest celebrity accessory of the summer ? and for those lucky enough to have one it brings champagne soirees at Claridge?s, shopping binges on the King?s Road and new careers in music, film or books.

Neil Hamilton?s got one, Greg Martin was given one, and others who have had one include Michael Barrymore and Kim Basinger. It?s called a bankruptcy order ? and if you?re well-enough connected, it can be your entree to the high life.

Just look at Neil Hamilton ? once merely a government minister, but today glorifying in the splendid lifestyle of an undischarged bankrupt. Let?s follow Neil?s diary for 5 May, which he kindly provided this week.

A pleasant day?s shopping in Chelsea, stocking up on food, fine wines and camera film in advance of a summer holiday; a relaxed afternoon with Christine, preparing ?jellied bloody mary and baked fish? ? mmm ? and chilled champagne for a cosy dinner party; followed by some gorgeous drinks among friends in Claridge?s, where a glass of bubbly costs from £8. Let that be a warning to all those considering defaulting on their debts.

It helps if you?re well connected, of course. When Darius Guppy emerged from Ford open prison, having served time and gone bankrupt over £1.8 million owed after a jewel swindle, his pal Charlie Spencer lent him a five-bedroom house on the Althorp estate, and family friend Michael Alexander offered him a room in his Eaton Place house to help his writing career.

Bless them all, we say. As the Government attempts to reduce the stigma of bankruptcy, we look at the public-spirited celebrities who have long been doing their bit.

Jonathan Aitken, May 1999

Greg Martin, March 2001

Neil Hamilton, May 2001

Bill Roache, 1999

Kevin Maxwell, 1992

Kim Basinger, 1993