Bankruptcies Continue to Soar
Official figures show number of individual bankruptcies continues to rise
8th August 2005
The Department of Trade and Industry have released their latest bankruptcy figures, which show that the levels of individual insolvencies continue to rise, up 36.8% in the second quarter.
The total number stands at 15,394, the highest figure since records have been kept.
Nearly a quarter of insolvencies were IVAs, up 70%, while the rest were individual bankruptcies, up 27.5%.
It is the sixth successive set of quarterly figures to show a rise in insolvencies, partly attributable to the series of interest rate rises of 2003/4.
Read More: BBC : Bankruptcies hit another record
|
More on Bankruptcy : Egg plc Posts £40m Loss (News, 31/07/2006), Report Says a Million People Near to Bankruptcy (News, 22/05/2006), Another Steep Rise in Insolvencies (News, 05/05/2006), Bankruptcy Rate Rises in Under 25s (News, 13/09/2005), Fall in Forced Bankruptcies (News, 04/07/2005), See all 10 Bankruptcy stories >>> |
Home - Bad Credit
