Lamport Bassitt Solicitors - Legal News - Personal insolvency trend 'is alarming'


	LATEST LATEST LEGAL NEWS ARCHIVE		LATEST NEWS & EVENTS Personal insolvency trend 'is alarming' A large number of people may be keen to obtain legal advice regarding personal insolvency in the months ahead, judging by recent figures from the Office for National Statistics (ONS). Paul Crayston, spokesman for the Money Advice Trust, suggested that although the data records that such problems have marginally decreased, the broader picture is altogether different. He claimed there is an "increasing trend of people seeking insolvency or being forced insolvent, which is deeply concerning". Mr Crayston added that it is important to ensure that "unmanageable debt is reduced as far as possible". The expert said such a strategy can help realign the country's economic and social structure in a positive way. Furthermore, it is preferable that those struggling to manage their bank funds are able to get the best possible advice. This follows the remarks of Richard Dodd, head of media at the British Retail Consortium, who said there is "a lot of nervousness" regarding people's spending habits. Posted by Isobel Whitely 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