Individual insolvencies, November 2024
Monthly tables and commentary on the numbers and rates of individual insolvencies, including bankruptcies, debt relief orders and individual voluntary arrangements in England and Wales and Northern Ireland, and quarterly information for Scotland. For England and Wales, Breathing Space scheme statistics are also included.
Documents
Details
Main messages for England and Wales
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After seasonal adjustment, 10,012 individuals entered insolvency in England and Wales in November 2024. This was 12% higher than in October 2024 and 25% higher than in November 2023.
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The individual insolvencies consisted of 589 bankruptcies, 3,693 debt relief orders (DROs) and 5,730 individual voluntary arrangements (IVAs). Monthly DRO numbers between April and November 2024 were at record highs. This followed the removal of the £90 administration fee to obtain a DRO from 6 April 2024. The number of IVAs registered in November was similar to the average monthly number seen over the past 12 months. Bankruptcy numbers remained at about half of pre-2020 levels and were also lower than in November 2023.
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In the 12 months ending 30 November 2024, one in 422 adults in England and Wales entered insolvency (at a rate of 23.7 per 10,000 adults). This is higher than the rate of 21.8 per 10,000 adults (one in 459) who entered insolvency in the 12 months ending 30 November 2023.
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There were 7,626 Breathing Space registrations in November 2024. This is 2% higher than in November 2023.