Nearly 25,500 people went bust over the summer, figures have revealed.
The figure – equivalent to 276 a day between July and September – was 10.6% up on the previous three months and 7.7% more than a year ago.
The big rise comes amid growing concerns about a debt time bomb.
Households now owe more than £1.5trillion, most on mortgages but £200billion of that on credit cards, car finance and other unsecured borrowing.
Experts warn the situation will worsen if, as many expect, the Bank of England increases its base rate for the first time in a decade next week.
(Image: Getty)
The rise in personal insolvencies was fuelled by individual voluntary arrangements…
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