Number of people going financially insolvent predicted to rise – AOL UK

The number of people going financially insolvent is predicted to have jumped to levels not seen for at least six years in official figures released on Tuesday.

The Insolvency Service is due to release figures showing how many bankruptcies, debt relief orders (DROs) and individual voluntary arrangements (IVAs) took place in the fourth quarter of 2018 across England and Wales.

Audit firm RSM expects the figures will show that more than 109,000 insolvency cases took place across the whole of last year.

Alec Pillmoor, a personal insolvency partner at RSM said: We anticipate that the number of personal insolvencies in 2018 will be in excess of 109,000, which is not only a 10% increase over the previous year, but an annual total not seen for six …

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