2009 Worst Year For Bankruptcies

	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 24,000 more Scots to go bankrupt during 2010 Time called on former landlords who fled to Spain Bankruptcy to be available online and by post under Government proposals 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	2009 - the worst year for personal insolvencies since records began A record number of people in England and Wales were made insolvent during 2009 according to the latest figures from The Insolvency Service. A total of 134,142 people were declared insolvent in England and Wales during 2009 - up by 26% on the previous year and surpassing 2006, the previous worst year on record when 107,288 people were made insolvent. The last quarter of 2009 saw 35,574 people declared insolvent, with 17,007 being declared bankrupt, 13,219 entering into Individual Voluntary Arrangements (IVAs) and 5,348 receiving Debt Relief Orders (DROs). 84% of bankruptcies during the last quarter were the result of people making themselves bankrupt. The number of businesses going bankrupt during 2009, 6,355, also set a new record. 5th February 2010

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

More news

24,000 more Scots to go bankrupt during 2010

Time called on former landlords who fled to Spain

Bankruptcy to be available online and by post under Government proposals

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

2009 - the worst year for personal insolvencies since records began

A record number of people in England and Wales were made insolvent during 2009 according to the latest figures from The Insolvency Service.

A total of 134,142 people were declared insolvent in England and Wales during 2009 - up by 26% on the previous year and surpassing 2006, the previous worst year on record when 107,288 people were made insolvent.

The last quarter of 2009 saw 35,574 people declared insolvent, with 17,007 being declared bankrupt, 13,219 entering into Individual Voluntary Arrangements (IVAs) and 5,348 receiving Debt Relief Orders (DROs).

84% of bankruptcies during the last quarter were the result of people making themselves bankrupt.

The number of businesses going bankrupt during 2009, 6,355, also set a new record.

5th February 2010

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