Skip nav

Commenting on the newly released figures from the Insolvency Service, the IVA Advisory Centre pointed to the record number of IVAs (Individual Voluntary Arrangements) entered into in the second quarter of the year.

Between April and June, the figures confirm, a total of 13,466 people entered an IVA in England and Wales. This was an increase of 14% on the figure of the previous quarter - but more significantly, it was yet another all-time high. Prior to this, the most people we'd seen enter an IVA in a single quarter was 13,219, in the fourth quarter of 2009.

This, along with the record number of people entering a Debt Relief Order (DRO) - 6,295 - goes a long way toward explaining the decline in bankruptcies. 20% down on the previous quarter, the number of people entering bankruptcy stood at just 14,982 in the second quarter of the year. This was the lowest figure we've seen...

Read full release