The Insolvency Service said this was mainly driven by a fall in IVAs, which fell around 16 percent compared to the first quarter which had the largest quarterly number of IVAs since records began.
Bankruptcies during the second quarter increased nearly five percent compared to the same period last year. The Insolvency Service attributed this to changes in the application process.
In Scotland, personal insolvencies including bankruptcies and protected trust deeds, increased by 17 percent for the first quarter, year-on-year.
The number of individual insolvencies may have dropped in the last few months, but the level of bankruptcies remains to be a problem in seaside towns.
Seven of the top 10 areas for personal insolvencies w…
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