Latest Insolvency Service statistics reveal Personal Insolvencies have gone up

The latest results Insolvency statistics from The Insolvency Service for Quarter 2 (April to June 2016) reveal that Personal Insolvency numbers have gone up. The main findings of the report were:

• Total individual insolvencies increased for the fourth consecutive quarter, driven primarily by an increase in individual voluntary arrangements
• Debt relief orders also increased, because of a change to the eligibility criteria
• The effect of the change from court-based to online bankruptcy applications is not yet clear from the statistics

The full overview of statistics can be found here.