Official Stats - BIG increase in BRs in 4th quarter

fermi

http://www.insolvency.gov.uk/otherinformation/statistics/200902/index.htm

INDIVIDUAL INSOLVENCIES

There were 29,444 individual insolvencies in England and Wales in the fourth quarter of 2008 on a seasonally adjusted basis. This was an increase of 8.2% on the previous quarter and an increase of 18.5% on the same period a year ago.
This was made up of 19,100 bankruptcies (which were up 9.4% on the previous quarter and 22.2% on the corresponding quarter of the previous year), and 10,344 Individual Voluntary Arrangements (IVAs), (which were up 5.9% on the previous quarter and 12.2% on the corresponding quarter of the previous year).





In the fourth quarter of 2008, 84.4% of bankruptcies were made on the petition of the debtor, a similar level to that seen for earlier quarters and for 2006 and 2007 as a whole. The percentage of bankruptcy orders involving trading debts (self-employed bankruptcies) was 12.3% in the third quarter of 2008 (fourth quarter 2008 figures for trading-related bankruptcies are not yet available).

philnicandamy

blimey...thats a heck of an increase BUT no doubt it'll be higher as time goes on

fermi

Yep. The first half on 2009 has got to be worse than that surely?

Then who knows from there onwards.....

philnicandamy

fermi wrote: »

Yep. The first half on 2009 has got to be worse than that surely?

Then who knows from there onwards.....

I agree...the first half of 09 will be a lot worse....a freind has just gone BR at a local court & he's a thousand and odd of 2009....:eek:

blind-as-a-bat_2

Cant help but wonder how the tactics of the creditors and DCA's has affected those figures, I wonder how many may not have gone BR if they had not been treated so badly when they tried to come to an agreemant with the creditors and DCA's ?

fermi

It is certainly a big factor in the decision for a lot of people here.

Made me laugh................ :rolleyes::rolleyes::rolleyes::rolleyes:

DCAs asked to give debtors breathing space

Yeah..... right.....

(as if the CSA gives a ****)

dvs

philnicandamy wrote: »

I agree...the first half of 09 will be a lot worse....a freind has just gone BR at a local court & he's a thousand and odd of 2009....:eek:

Blimey! I was 1600 odd of 2008 and that was in mid-December. If they're over 1000 already... eek! :eek:

blind-as-a-bat_2

fermi wrote: »

It is certainly a big factor in the decision for a lot of people here.

Made me laugh................ :rolleyes::rolleyes::rolleyes::rolleyes:

DCAs asked to give debtors breathing space

Yeah..... right.....

(as if the CSA gives a ****)

I had seen that and thought the same:rolleyes: , even if they did give a dam the DCA,s would ignore them anyway.:rolleyes:

And what good would them backing of for 30 days do? There are a lot of CAB offices it takes that long just to get seen, let alone address the issue:eek:
Then the DCA'S ignore CAB anyway if they can get away with it, which they can in many cases:rolleyes:

So_Sad_Angel

I think these are very worrying figures ! Sadly I think they are going in only one direction!

What I don`t understand is why Mr Brown is insisting that the Banks lend us more, so that people can spend more, just to boost the economy?? Isn`t that how this country got in this mess in the first place??!!

This is the tip of the iceberg I think.

Angex

robsimps53

i couldnt agree more, so sad angel