29/07/2015
Personal insolvency has fallen to a 10 year low in England and Wales, according to figures from the insolvency service.
The number of people being declared insolvent between April and June fell to 18,688, which is 29.3% less than a year ago, and the lowest total number since 2005. The number of firms falling into insolvency has also fallen, with 3,908 firms becoming insolvent over the last three months, the smallest number since the end of 2007.
Industry experts have claimed that the fall in insolvencies is linked to the increasing strength of the economy and the real term increase of wages.
The Money Advice Trust (MAT), which runs National Debtline, welcomed the fall, but warned that peoples debt l…
Read the full article at: https://www.financialadvice.co.uk/news/loans/personal-insolvency-falls-to-10-year-low.html