Record Breaking Levels Of Personal Insolvency Announced Today

Official figures released today, have shown that 2010 saw the highest ever levels of personal insolvencies in England and Wales.

The latest statistics from the Insolvency Service have revealed that there were 135,089 individual insolvencies last year, which was a 0.7% increase on 2009.  This figure included 59,194 bankruptcies (which were down 20.7% on 2009), 50,716 Individual Voluntary Arrangements (which were up 6.5% on 2009), and 25,179 Debt Relief Orders.

We are expecting demand for debt advice to soar again in 2011, with the threat of further job losses and the rise in living costs pushing more and more people into insolvency.

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