Bucking the national trend, the Isle of Wight saw a reduction in personal insolvencies between 2016 and 2017 but is still near the top of the list for high rates of personal insolvencies, says insolvency trade body R3.
According to the annual personal insolvency rates released by the Insolvency Service, the 2017 statistics show there were 37.4 insolvencies per 10,000 adults compared to 38.2 in 2016 on the Island placing it as the local authority with the 7th highest rate of personal insolvency of all 348 districts in England and Wales.
As with 2016, the most frequent type of insolvency on the Isle of Wight was debt relief orders (DROs), accounting for 48% of the total. In England and Wales overall, there were over twice as man…
Read the full article at: https://www.islandecho.co.uk/isle-of-wight-sees-personal-insolvency-reduction-but-figures-still-high/