Latest Insolvency Statistics - 2nd quarter 2011

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Source: http://www.insolvencydirect.bis.gov.uk/otherinformation/statistics/201108/index.htm

INDIVIDUAL INSOLVENCIES (not seasonally adjusted)

There were 30,513 individual insolvencies in England and Wales in the second quarter of 2011. This was a decrease of 12.2% on the same period a year ago.

This was made up of 11,113 bankruptcies (which were down 25.8% on the corresponding quarter of the previous year), 12,143 Individual Voluntary Arrangements (IVAs), (which were down 9.8% on the corresponding quarter of the previous year) and 7,257 Debt Relief Orders (DROs), (which were up 15.3% on the corresponding quarter of the previous year)

Figure. Individual insolvencies in England & Wales - Thousands, not seasonally adjusted
Source: Insolvency Service

Total individual insolvencies for Q2 2009 onwards include Debt Relief Orders, which came into force on 6 April 2009

In the second quarter of 2011, 83.0% of bankruptcies were made on the petition of the debtor, broadly comparable to the levels for recent quarters.

The percentage of bankruptcy orders involving trading debts (self-employed bankruptcies) was 20.6% in the first quarter of 2011 (second quarter 2011 figures for trading-related bankruptcies are not yet available), noticeably higher than levels seen in recent quarters.

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Please the link for more details and explanatory notes

http://www.insolvencydirect.bis.gov.uk/otherinformation/statistics/201108/index.htm

dojoman

Thanks for posting this Fermi, much appreciated:T

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BBC News --> Personal insolvencies stabilising

dojoman