Latest monthly figures from the Insolvency Service for England & Wales have indicated that personal insolvency figures fell by 4% in May 2024 with a total of 9,266 personal insolvencies registered when compared to last month.
Personal insolvencies decreased by 7.2% when compared May 2022s total of 9,986 and decreased by 15.7% compared to pre-pandemic levels in May 2019 (10,989).
The personal insolvency data consisted of 604 bankruptcies, 3,716 debt relief orders (DROs) and 4,946 individual voluntary arrangements (IVAs).
The number of IVAs registered in May was lower than the numbers seen over the past 12 months. The number of DROs in May 2024 increased compared to April 2024, which had already set a record high in the monthly time series…
Read the full article at: https://www.credit-connect.co.uk/news/personal-insolvencies-fall-by-4/