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LATEST NEWS & EVENTS Personal insolvency rate falls  Fewer people will have needed the help of an insolvency lawyer in recent months as new figures show a decline in personal bankruptcies. Some 30,219 people went into bankruptcy or entered into an Individual Voluntary Arrangement or Debt Relief Order in the three months to the end of September, an overall decrease of 11 per cent compared to the same quarter in 2010. Chris Nutting, director of Personal Insolvency at KPMG, explained that while bankruptcy numbers are falling to levels last seen in 2004, the figures mask the number of people with "severe personal indebtedness". He added: "There is a growing number of individuals with large amounts of unsecured debt looking for some resolution of their financial problems which have simply not gone away." The sentiments were echoed by France Coulson, president of insolvency trade body R3. She said the Insolvency Service data does not offer "the full picture" as the growing Debt Management Plan market, estimated at 500,000 individuals, is not counted. "If inflation continues to rise and wages remain stagnant we may see a rise in personal insolvencies," Ms Coulson warned. Posted by Alex McLean 
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