Official statistics released today (January 27) by The Insolvency Service, which administers the insolvency regime in England and Wales, show that total personal insolvencies reached a total of 90,930 last year. This was a 13 percent rise on 2015.

This total comprised 49,745 IVAs, which were up 23 percent year-on-year and returned to the levels generally seen from 2009 to 2014.

IVAs were the main driver of the annual rise though an overall bounce in IVA levels since a low point in the middle of 2015, now appears to have slowed down.

There were also 26,196 debt relief orders (DROs) during 2016, which reflected an eight percent annual increase. Generally, the numbers of DROs have flattened out, after a small rise when the barrier…

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