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The number of individual insolvencies in England and Wales fell to its lowest level in eight years in 2013, according to government figures.

In total 101,049 individuals became insolvent last year, the lowest number since 2005.

On the corporate side, 14,982 companies went into liquidation, the lowest since 2007.

http://www.bbc.co.uk/news/business-26082570

Stigman

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I wonder what difference Lowell's will make to those figures.

 

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Hi Wintry,

 

My problem with these figures is that it never paints a full picture.

Those who have taken IVA's are not included nor are any figures relating to outstanding debt (secured or unsecured) that is uncollected, debt that is included in IVA's and Companies that have become involved in CVA's.

 

The cost of the Bankruptcy fee must also have something to do with this, the personal insolvency fee is now at £525 and that is excluding court fees.

If your in serious financial trouble then £525 is out of reach for so many, therefore, you bury your head in the sand or you do not pay any of your creditors to save up and pay for your Bankruptcy.

 

These figures relate to the fortunate personal few who have managed to put their debts behind them, the Companies that went into liquidation were most likely as a result from competition from the big supermarkets as I witnessed on a recent visit back down south to my home City.

 

Stigman

NEVER telephone a DCA

If a DCA rings you, refuse to go through the security questions & hang up!

 

If I have helped you, click on the star & say thank you

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Hi Wintry,

 

My problem with these figures is that it never paints a full picture.

Those who have taken IVA's are not included nor are any figures relating to outstanding debt (secured or unsecured) that is uncollected, debt that is included in IVA's and Companies that have become involved in CVA's.

 

The cost of the Bankruptcy fee must also have something to do with this, the personal insolvency fee is now at £525 and that is excluding court fees.

If your in serious financial trouble then £525 is out of reach for so many, therefore, you bury your head in the sand or you do not pay any of your creditors to save up and pay for your Bankruptcy.

 

These figures relate to the fortunate personal few who have managed to put their debts behind them, the Companies that went into liquidation were most likely as a result from competition from the big supermarkets as I witnessed on a recent visit back down south to my home City.

 

Stigman

 

Hi

 

Cheers for the reply

 

Some very interesting points in there.

 

The B/R fees are definitely acting as a barrier for some in my opinion

 

Again, thanks for commenting

 

W

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