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Debt problems: Decade of insolvency

06/01/2011 Get Adobe Flash player

Dealing with debt problems is the only way to reduce numbers of insolvencies which were still sky high at the close of 2010.

The Insolvency Service says personal insolvencies are beginning to fall at last following a steady upward trend over the last decade.

Despite the figures being less severe than those recorded in 2009, the organisation thinks more needs to be done to encourage people to carry out debt management with their finances.

Perhaps most alarmingly given the pensions turmoil, the UK's pensioners are shown to be the fastest growing demographic of bankrupts – rising 50 per cent faster during the noughties than any other age group. ADNFCR-2613-ID-19950783-ADNFCR

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