Individual insolvency climbs, statistics show

Money News

www.moneynews.co.uk > Debt > Individual insolvency climbs, statistics show

Topics

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Features

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Companies

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Money News

bullet
bullet
bullet
bullet
bullet

Individual insolvency climbs, statistics show

More than 35,000 people filed for insolvency in the third quarter of this year, the Office of National Statistic has revealed.

There were 35,242 individual cases, an increase of 28.2 per cent on the same quarter last year.

However, this does not reflect the true level of the UK's debt, according to Talk About Debt, as the number of people in dept management plans is not know.

Jessica Brown from the website said despite more debt management plans being taken out than any other debt solution there is not a central system for registering them.

More worryingly, she revealed some people were paying for their debt counselling after receiving bad advice.

"It's essential that people get the right advice for their needs as quickly as possible, without paying through the nose for it," Ms Brown added.

Company insolvencies, based on the number of compulsory liquidations and creditors' voluntary liquidations, fell by 4.7 per cent, an increase of 14.6 per cent on the same period last year.

Click here for more debt newsADNFCR-323-ID-19447903-ADNFCR

Related News : Debt

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet