Personal insolvency on the rise

The Insolvency Service is today expected to reveal that the number of people filing for personal insolvency in the third quarter of the year topped 30,000 for the second successive quarter as rising unemployment takes its toll on individuals’ bank accounts. Louise Brittain, a partner at Deloitte, said: “This figure is staggering, and unfortunately the end is not in sight.” She expects that the total number of personal bankruptcies will exceed the 130,000 mark by the end of the year.