Lamport Bassitt Solicitors - Legal News - Insolvency figures 'to continue rising' this year


	LATEST LATEST LEGAL NEWS ARCHIVE		LATEST NEWS & EVENTS Insolvency figures 'to continue rising' this year The number of people being declared insolvent is likely to continue growing in 2010, it has been argued. Alan O'Sullivan of This is Money explained that the consequences of the economic downturn will continue to be seen. He was commenting ahead of the release of Insolvency Service statistics - which ultimately showed that there were 35,574 bankruptcies, individual voluntary arrangements and debt relief orders in the final quarter of 2009. According to Mr O'Sullivan, the coming months will see more people have to face up to the debt they have accrued. "Insolvencies generally continue to rise even after the economy has recovered from recession, as the effects of unemployment continue to be felt," he said. Meanwhile, the Consumer Credit Counselling Service has pointed to its own insolvency figures as evidence that large numbers of Britons are still struggling with unmanageable debt, despite some recent positive signs in the economy. Related Articles: 8/5/2012 - More companies fail as personal insolvencies fall 23/4/2012 - Landlords and insurers unite behind insolvency law reform 19/4/2012 - Enterprise Act 'does not need radical overhaul' 13/4/2012 - Retail insolvency rate up 15% as rent payments bite 28/3/2012 - Business insolvencies on the rise More Insolvency & Restructuring News