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• More than 19,000 people declared bankrupt in Q1
• Figure is 23% increase on same period last year
A record 19,026 people were declared bankrupt in England and Wales during the first three months of this year, the Insolvency Service said today.
The figure was 23.4% up on the same period last year and 0.5% higher than in the last quarter of 2008.
There was also a sharp rise in the number of borrowers entering into individual voluntary arrangements (IVAs), with 10,713 IVAs set up over the quarter.
The figure was 11.8% up on the first quarter of last year and 3.6% higher than the final quarter.
More details soon ...
- Bankruptcy and IVAs
- Borrowing & debt
- Family finances
- Consumer affairs
- Credit crunch
- Recession
- Economics
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