The number of people being tipped into insolvency jumped 13% last year amid fears that the “tide has turned” for household finances.
Figures from the Insolvency Service show 90,930 personal insolvencies were recorded across England and Wales, rising 13.1% from 2015.
It is the first time since 2010 that the number of people entering insolvency has increased year-on-year.
The number of companies going insolvent also increased last year, for the first time since 2011.
Mark Sands, a personal insolvency partner at RSM, said: “In 2015 we saw the lowest levels of personal insolvency in over a deca…
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