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The number of people who became insolvent jumped by 9.4% in 2017 – the second year running that figures rose.
In total, 99,196 individuals were declared insolvent in England and Wales, up from 90,657 in 2016.
The Insolvency Service said the figures had returned to levels last seen in 2013 and 2014.
The number of people going insolvent has been falling since the financial crisis. However, last year that trend went into reverse.
“The combination of shrinking real wages and the increase in interest rates means that the finances of many Britons are now stretched tight as a drum,” said Brian Johnson…
Read the full article at: http://www.bbc.com/news/business-42831525
