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philipmould
06-02-2007, 01:53 AM
According to the latest report, 2007 was witness to a steep rise in the number of people having CCJs registered against them. Conservative estimate put the number at a rough 850,000. It seems that quite a lot of consumers see bankruptcy as the only way out.

2006 was a bumper year as far as bankruptcy numbers are concerned. More than a 100,000 people had declared themselves insolvent. Official figures show that 15,356 people bankrupted themselves and 11,299 agreed an IVA in Q1 2007. Many instant online credit information providers like Equifax is concerned that many consumers do not understand the implications of going bankrupt. There is a common misconception that bankruptcy is an easy way out of debt with no after effects.

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carlel
09-04-2007, 07:32 PM
i don't know where you get your figures from, but a recent report on the BBC says many more people are opting for IVA's rather than a bankruptcy.