Number Of People Going Bankrupt England Wales 2009 First Quarter

	Do you live in Scotland? As Scotland has its own legal system, distinct from that of England and Wales, laws relating to bankruptcy are different too. In Scotland, personal bankruptcy is known as sequestration.

Would you like to talk to a trained debt counsellor about alternatives to bankruptcy? more More news Bankruptcies rocket in Scotland with introduction of LILAs One out of every 290 mortgage holders see homes repossessed in 2008 Bailiffs to get more powers but not much needed regulation Citizens Advice warns Citizens Advice Bureau reports sharp rise in debt problems Record number of people going bust - and it's set to get worse More than a million householders use credit card borrowing to pay their mortgage or rent Number of CCJs issued hits ten year high Number of Scots going bankrupt hits record high	Bankruptcy numbers hit new high in England and Wales The number of people declared bankrupt in England and Wales during the first quarter of 2009 has jumped to a new record high according to the latest figures released by the Insolvency Service. There were a total of 29,774 personal insolvencies during the first quarter of the year, consisting of 19,062 bankruptcies and 10,713 Individual Voluntary Arrangements (IVAs). The total number is up 1.6% on the previous quarter and 19.0% on the same period a year ago. The number of businesses going bust also increased markedly during the first quarter of 2009. There were 4,941 compulsory liquidations and creditors’ voluntary liquidations in total in England and Wales in the first quarter of 2009 on a seasonally adjusted basis - an increase of 7.1% on the previous quarter and an increase of 56% on the same period a year ago. May 2nd 2009

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Would you like to talk to a trained debt counsellor about alternatives to bankruptcy? more

More news

Bankruptcies rocket in Scotland with introduction of LILAs

One out of every 290 mortgage holders see homes repossessed in 2008

Bailiffs to get more powers but not much needed regulation Citizens Advice warns

Citizens Advice Bureau reports sharp rise in debt problems

Record number of people going bust - and it's set to get worse

More than a million householders use credit card borrowing to pay their mortgage or rent

Number of CCJs issued hits ten year high

Number of Scots going bankrupt hits record high

Bankruptcy numbers hit new high in England and Wales

The number of people declared bankrupt in England and Wales during the first quarter of 2009 has jumped to a new record high according to the latest figures released by the Insolvency Service.

There were a total of 29,774 personal insolvencies during the first quarter of the year, consisting of 19,062 bankruptcies and 10,713 Individual Voluntary Arrangements (IVAs). The total number is up 1.6% on the previous quarter and 19.0% on the same period a year ago.

The number of businesses going bust also increased markedly during the first quarter of 2009. There were 4,941 compulsory liquidations and creditors’ voluntary liquidations in total in England and Wales in the first quarter of 2009 on a seasonally adjusted basis - an increase of 7.1% on the previous quarter and an increase of 56% on the same period a year ago.

May 2nd 2009

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