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Small drop in Insolvecies - Insolvency Service Figures
rog2
Posts: 11,650 Forumite
The Insolvency service has reported an 8% drop in the number of people becoming insolvent in the three months to June, as compared the previous three months, but still an increase of 4.1% compared with the same period last year:
Of the total figure of 26,956 - a drop of 8% - the total number of Bankruptcies was 16,956 - a drop of only 3%, whilst the total number of people choosing IVAs was 10,698 - a significant drop of 15%.
Whilst the trend is downward, there would appear to be a significant move away from IVAs in favour of Bankruptcy.
Encouraging perhaps, but still almost 10,000 Insolvencies a month.
Food for thought.
Of the total figure of 26,956 - a drop of 8% - the total number of Bankruptcies was 16,956 - a drop of only 3%, whilst the total number of people choosing IVAs was 10,698 - a significant drop of 15%.
Whilst the trend is downward, there would appear to be a significant move away from IVAs in favour of Bankruptcy.
Encouraging perhaps, but still almost 10,000 Insolvencies a month.
Food for thought.
I am NOT, nor do I profess to be, a Qualified Debt Adviser. I have made MANY mistakes and have OFTEN been the unwitting victim of the the shamefull tactics of the Financial Industry.
If any of my experiences, or the knowledge that I have gained from those experiences, can help anyone who finds themselves in similar circumstances, then my experiences have not been in vain.
HMRC Bankruptcy Statistic - 26th October 2006 - 23rd April 2007 BCSC Member No. 7
DFW Nerd # 166 PROUD TO BE DEALING WITH MY DEBTS
If any of my experiences, or the knowledge that I have gained from those experiences, can help anyone who finds themselves in similar circumstances, then my experiences have not been in vain.
HMRC Bankruptcy Statistic - 26th October 2006 - 23rd April 2007 BCSC Member No. 7
DFW Nerd # 166 PROUD TO BE DEALING WITH MY DEBTS
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IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
Pretty scary when compared to 1998, fermi.I am NOT, nor do I profess to be, a Qualified Debt Adviser. I have made MANY mistakes and have OFTEN been the unwitting victim of the the shamefull tactics of the Financial Industry.
If any of my experiences, or the knowledge that I have gained from those experiences, can help anyone who finds themselves in similar circumstances, then my experiences have not been in vain.
HMRC Bankruptcy Statistic - 26th October 2006 - 23rd April 2007 BCSC Member No. 7
DFW Nerd # 166 PROUD TO BE DEALING WITH MY DEBTS0
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