The number of people going bankrupt is expected to have jumped in early 2018 as households deal with post-Christmas debts and struggle to stretch credit limits further, according to an audit and restructuring firm.
RSM predicts official figures for England and Wales will show a 14% year-on-year increase in the number of people being declared bankrupt in the first quarter of this year, although the overall numbers of personal insolvencies are expected to remain broadly in line with last year.
Ahead of the release of the Insolvency Service’s official figures on Friday, Tracker, RSM’s online early alert system, predicts that personal insolvencies will reach 25,700, made up of around 4,400 bankruptcies, 14,800 individual voluntary arrangem…
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