Personal insolvencies soar to highest level in three years
by Angela Monaghan from on (#2MNG8)
Households facing financial pressure from debt, weak pay growth and inflation
The number of individuals applying for insolvency jumped to the highest level in almost three years in the first three months of 2017, in a further sign of the mounting financial pressure facing UK households.
Personal insolvencies in England and Wales totalled 24,531 between January and March, up 6.7% on the previous quarter and 15.7% higher than the same period a year earlier. It was the highest number of individual cases since the second quarter of 2014, according to the Insolvency Service, which published the figures.
Related: Debt charities urge struggling consumers to seek advice early
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