New figures to show ‘record insolvencies’

May 4, 2007

Insolvency figures to be released tomorrow are expected to show a record number of people went bust in the first three months of the year, experts warned today.

Official statistics are likely to show that around 30,000 individuals went bankrupt or took out an individual voluntary arrangement (IVA) between January and March.

A rise in IVA rejection rates could, however, have a knock-on effect on bankruptcy figures, with evidence indicating a rise in the number of people being declared bankrupt in the past month.

New figures to show ‘record insolvencies’ | Credit and debt | Guardian Unlimited Money