Personal insolvencies on the rise

 Personal insolvencies rise by 22%

The number of people being declared insolvent has risen by a fifth compared to a year ago. A total of 22,503 people were left with unmanageable debts in the second quarter of the year - a 22% rise on the same period last year - according to official figures from the Insolvency Service. Elsewhere in the UK, there was a 50% rise in individual insolvencies in Scotland over the same period, with 2,405 people going insolvent in the second quarter of the year. The rise in personal insolvencies was driven by a 15% rise in IVAs.

Source:   Daily Mail (29/07/2016)   The Times (29/07/2016)