Insolvencies rise 24.9% in Q4 of 2009
Posted by on 5th February 2010 to Bankruptcy Advice News
There has been a rise of 24.9 per cent in the number of individual insolvencies in the fourth quarter of 2009.
Figures published by the Insolvency Service showed that 35,574 became insolvent during this period, including 17,007 bankruptcies. This was a rise of 5.5 per cent on the fourth quarter of 2007.
There were also 13,219 individual voluntary arrangements created - up 26.3 per cent - and 5,348 Debt Relief Orders negotiated, with 84 per cent of bankruptcies made at the petition of the debtor.
Throughout the whole of 2009, there were a total of 134,142 individual insolvencies in England and Wales - the equivalent of 0.31 per cent of the adult population.
Earlier this month, figures from Credit Action showed that personal debt has risen to £1.46 trillion during December.
This was a growth of 0.7 per cent, the equivalent of lending rising by £1.2 billion over the last 12 months.
Debt Free Helpline offer debt management plans as well as a range of other debt solutions. If you are worried about debt, contact one of our trained debt advisers today.
Posted by Ken Leaves
Figures published by the Insolvency Service showed that 35,574 became insolvent during this period, including 17,007 bankruptcies. This was a rise of 5.5 per cent on the fourth quarter of 2007.
There were also 13,219 individual voluntary arrangements created - up 26.3 per cent - and 5,348 Debt Relief Orders negotiated, with 84 per cent of bankruptcies made at the petition of the debtor.
Throughout the whole of 2009, there were a total of 134,142 individual insolvencies in England and Wales - the equivalent of 0.31 per cent of the adult population.
Earlier this month, figures from Credit Action showed that personal debt has risen to £1.46 trillion during December.
This was a growth of 0.7 per cent, the equivalent of lending rising by £1.2 billion over the last 12 months.
Debt Free Helpline offer debt management plans as well as a range of other debt solutions. If you are worried about debt, contact one of our trained debt advisers today.
Posted by Ken Leaves
