Insolvency Service Statistics
The 1st quarter of 2017 shows that personal insolvencies were 15.7 percent higher than March 2016. Statisticians also discovered personal insolvencies in England and Wales have risen 6.7 percent from the same period in 2016.
There were 24,531 individual insolvencies in the period, of which 59{06aeb1921e0b802d2bd9c766bc98fb11cc6a46c2b0593ed9c88a0e29cf417a34} were IVAs, 25{06aeb1921e0b802d2bd9c766bc98fb11cc6a46c2b0593ed9c88a0e29cf417a34} debt relief orders and 16{06aeb1921e0b802d2bd9c766bc98fb11cc6a46c2b0593ed9c88a0e29cf417a34} bankruptcies.
Corporate insolvencies rose by almost 5{06aeb1921e0b802d2bd9c766bc98fb11cc6a46c2b0593ed9c88a0e29cf417a34} from the first quarter of 2017 compared to the previous three months – and are also about five percent higher than this time last year.
T H Financial Recovery works with both individuals and businesses in financial difficulty. If your business is facing problems and you need advice on the options available, such as new funding, business restructuring or help with insolvency, we can help.
Give us a call to arrange a FREE, no obligation consultation. We handle both informal and formal insolvency work, including:
Business Assessment and Restructuring, New Funding Options, Creditor negotiation and time to pay arrangements, Company and Individual Voluntary Arrangements (CVAs & IVAs), Administration, Liquidation, Bankruptcy.
Give us a call to arrange a FREE, no obligation consultation. Tel: 01772 641146