31st January 2022 - Credit Connect

Personal insolvencies fell by 1.4% in 2021

31st January 2022 Consumer Collections | #personal insolvenies

Annual person insolvency figures statistics for England and Wales from the Insolvency Service have indicated that there were 110,022 personal insolvencies in 2021, a fall of 1.4% on 2020’s figure of 111,578, and a fall of 9.9% compared to 2019 (122,155). The number of bankruptcies in 2021 was 31% lower than in 2020 and 48%…

Business insolvencies increased 11.2% in 2021

31st January 2022 Business | #business insolvencies

Annual business insolvency figures statistics for England and Wales from the Insolvency Service have indicated that there were 14,048 underlying corporate insolvencies in 2021, an increase of 11.2% from 2020’s figure of 12,634, but a fall of 18.2% on 2019’s figure (17,166). The increase compared to 2020 was driven by the highest annual number of…

Northern Irish business insolvencies rise whilst personal insolvency numbers remain stable

31st January 2022 Business | #business insolvency

Latest statistics from the Insolvency Service have indicated that Northern Irish business insolvencies increased the latest quarterly figures. In December 2021 there were 81 individual insolvencies in Northern Ireland, 48% lower than in December 2020, and 42% lower than December 2019. This consisted of 63 IVAs, 11 DROs and seven bankruptcies. There were 32 company…

Half of small energy suppliers at risk of collapse

31st January 2022 Business | #energy company insolvencies

Over half of the UK’s remaining small energy suppliers are at imminent risk of collapse, according to Price Bailey analysis. Of the 22 gas and electricity suppliers left outside of the so-called ‘big six’, 12 companies have negative assets on their balance sheets meaning they are technically insolvent and at risk of collapse. city trade…

Money Statistics: January 2022

31st January 2022 Arrears and Recoveries |

Here is an overview of The Money Charity’s latest statistics for January 2022 Personal debt in the UK People in the UK owed £1,754.3 billion at the end of November 202 The average total debt per household, including mortgages, was £63,122 and per adult was £33,169, around 108.6% of average earnings Net mortgage lending rose by…

Businesses braced for insolvency storm as pandemic state aid and creditor protection is shut off

31st January 2022 Commercial Collections and Recoveries | #business risk

Over half a million businesses are struggling financially amid soaring inflation and the rollback of government Covid-19 support according to Begbies Traynor’s Red Alert analysis. A total of 589,168 businesses reported financial distress in the final quarter of 2021, a five per cent jump compared to the previous three months. Begbies says that the data…

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