Insolvencies at a pre-recession low but young families suffering

Chris Papadopoullos
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THE NUMBER of people being declared insolvent in the UK has fallen to pre-recession levels, new data shows.

However, the number of insolvencies remains high for young families, according to figures released by information services firm Experian today.

All 15 of Experian’s demographic groups saw a decline in insolvency rates on the year in the three months to September except one which stayed the same.

The number of young families declaring personal insolvencies fell year-on-year in the third quarter of 2014 from 22 to 20 per 10,000. Despite the drop it is high relative to other groups.

At the other end of the spectrum London city workers’ insolvencies dropped to two from three per 10,000 – the lowest of any group.

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