In total, the number of people going financially insolvent across England and Wales jumped by 16% in August compared with the same month a year earlier, according to Insolvency Service figures.
Some 11,348 people entered insolvency in England and Wales in August, which was also 7% higher than the total in July this year.
The insolvency total was made up of 4,239 debt relief orders (DROs), 622 bankruptcies and 6,487 individual voluntary arrangements (IVAs).
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The number of DROs taken out in August 2025 was a record high in the monthly records going back to their introduction in 2009, the report said.
The figure exceeded a previous high of 4,191 in June…