The number of people becoming insolvent across England and Wales leapt by a fifth in the third quarter of 2016, with experts warning that the numbers could continue to increase as the cost of living rises following the UKs Brexit vote.
There were 24,251 personal insolvencies between July and September, marking a 19.3% increase compared with the third quarter of 2015 and a 6% rise on the second quarter of this year, the figures from the Insolvency Service show.
Insolvency experts said the rising cost of living had combined with changes to the rules on insolvencies to drive up the numbers, and that price rises resulting from the falling pound could push more people into difficulty.
Between July and September, the number of bankrupt…
Read the full article at: https://www.theguardian.com/money/2016/oct/28/insolvencies-jump-england-wales-cost-of-living-brexit