October 29, 2014

Bankruptcies hit lowest quarterly level in 15 years

BANKRUPTCIES have hit their lowest quarterly level for 15 years, according to official statistics published by the Insolvency Service.

The Insolvency Service has announced that there were 4,886 bankruptcy orders in England and Wales in the third quarter of this year, a level not seen since the first quarter of 1999.

Individual Voluntary Arrangements (IVAs) fell from the second quarter of 2014 to 13,143 – slightly down from 13,394 (1.9%) in the same quarter last year

Debt Relief Orders (DROs) also dropped slightly from the second quarter of this year to 6,808 – a rise of 2.7% on the same quarter last year, but on a year-to-date basis the numbers are broadly consistent with last year.

Bankruptcies hit lowest quarterly level in 15 years

BANKRUPTCIES have hit their lowest quarterly level for 15 years, according to official statistics published by the Insolvency Service.

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