Personal Insolvency Statistics 2014

Personal Insolvency statistics for England and Wales for 2014. Source www.gov.uk

personal-insolvency

Total of 99,196 individual insolvencies in 2014, 1.8% less than 2013. Now the lowest level since 2005.

Bankruptcies totalled 20,318, 17.3% lower than 2013, and now the lowest annual rate since 1998.

IVA’s (individual voluntary agreements) rose 6.8% in 2014 over 2013 to 52,190 showing the increased popularity of this option since being introduced in 1987.

Debt relief orders were 26,688 in 2014 which was a 3.1% decrease compared to 2013.