The rise was driven by a surge in the number of people taking out individual voluntary arrangements (IVA) for their debts
THE number of people going bust last year jumped 13 per cent amid fears that the tide has turned for household finances.
A total of 90,930 personal insolvencies were recorded across England and Wales, rising 13.1 per cent from 2015, the Insolvency Service said.
It is the first time since 2010 that the number of people entering insolvency has increased year-on-year.
It follows a warning from the Bank of England recently that vigilance was needed over ri…
Read the full article at: https://www.thesun.co.uk/living/2721480/more-people-are-going-bust-as-credit-card-and-personal-loan-borrowing-soars/