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LATEST NEWS & EVENTS Rising redundancy figures fuel personal insolvency fears  Rising redundancies in the UK are prompting fears over escalating debt and a potential increase in the personal insolvency rate. A new report from the Office for National Statistics reveals 43 per cent of those leaving their job in 2011 did so because they were made redundant, which has raised concerns that more people could be seeking help from an insolvency lawyer. The Consumer Credit Counselling Service (CCCS) said that redundancy and unemployment often lead to debt problems and are the biggest causes of financial worries among those seeking its help. CCCS director of external affairs Delroy Corinaldi notes that people are generally dealt a "huge financial blow" when they are made redundant. "While many will find new jobs, large numbers will not or will have a gap before they do," he adds. "This will leave them struggling with credit commitments they could easily keep up with before losing their job." It comes, however, as new figures reveal that the personal insolvency rate in the UK has actually fallen by 11 per cent. 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, according to the Insolvency Service. Posted by Alex McLean 
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