PERSONAL INSOLVENCIES REMAIN AT NEAR-DECADE HIGHS AFTER LATEST SURGE

PERSONAL INSOLVENCIES REMAIN AT NEAR-DECADE HIGHS AFTER LATEST SURGE

Figures for England and Wales have been released from The Insolvency Service

The number of people going financially insolvent across England and Wales has remained at near-decade highs after a surge in individual voluntary arrangements, official figures show.

The Insolvency Service said personal insolvencies across England and Wales rose by 23% year-on-year to 30,879 in the third quarter.

There were some 19,973 individual voluntary arrangements between July and September - up 43% compared with an "usually low" number a year earlier, according to the Insolvency Service.

But IVAs were also higher than the previous quarter, rising 1.4%.

Compared with the previous three months, the total number of personal insolvencies lifted 0.6% between July and September, according to the data.

The Insolvency Service said personal insolvencies have now remained at the highest quarterly level since the end of 2010 for the past four quarters.

Published: by Radio NewsHub
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