The number of people going insolvent across England and Wales jumped by a fifth in the third quarter of 2016 compared with the same period a year earlier.
There were 24,251 personal insolvencies between July and September, marking a 19.3% increase compared with the third quarter of 2016 as well as a 6% rise on the second quarter of this year.
Within this total, bankruptcies, which are often seen as a last resort, increased by 7% compared with the second quarter, with 3,844 new cases recorded in the second quarter, the figures from the Insolvency Service show.
Despite th…
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