PERSONAL insolvency across England and Wales increased by almost 20 per cent between July and September this year compared with the same period last year, official figures revealed yesterday.
There were 24,251 people who claimed to be insolvent in those three months, marking a 19.3 per cent increase.
Within this total, bankruptcies increased by 7 per cent in July to September, compared to the 3,844 cases recorded in April to June this year, according to figures from the Insolvency Service.
One in 515 adults across England and Wales became insolvent over the last 12 months.
Escalating numbers of personal insolvencies have been driven by an increase in individual voluntary arrangements (IVAs), under which money is shared …
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