Personal insolvency rises by 28%
A record number of people were declared insolvent in England and Wales in the third quarter of 2009, according to figures from the Insolvency Service.There were 35,242 personal insolvencies, up 28% from the same period last year and an increase of 6.6% on the previous three months.
This extended the record number recorded earlier this year.
But there was better news for business, with 4,716 company insolvencies, down 4.7% quarter-on-quarter.
However, the number of businesses going bust in the third quarter of the year was still 14.6% higher than the same period a year ago.
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