MORE than two-fifths of debt experts questioned by insolvency and restructuring trade body R3 believe that personal insolvency numbers will increase significantly in the next 12 months.
Over eight in ten respondents to an R3 survey of its members who work in personal insolvency said they expected the numbers of cases to increase within the next 12 months, with 41.6 per cent of respondents expecting them to be significantly higher than last year.
A further 44.5 per cent expect personal insolvency numbers to be somewhat higher than 2019, while 74.2 per cent say that personal debt relating to business failure is likely to be the most common trigger for personal insolvencies arising.
Half, 50 per cent, said credit card debt was likely to be …
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