Individual Insolvency Statistics, September 2024
Monthly individual insolvency statistics for England and Wales, as well as Northern Ireland, and quarterly statistics for Scotland. For England and Wales, Breathing Space scheme statistics are also included.
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Main messages for England and Wales
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After seasonal adjustment, 10,651 individuals entered insolvency in England and Wales in September 2024. This was 6% higher than in August 2024 and 44% higher than in September 2023.
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Individual insolvencies consisted of 567 bankruptcies, 4,032 debt relief orders (DROs) and 6,052 individual voluntary arrangements (IVAs). Over the past six months, DROs were at their highest monthly levels since their introduction, following the removal of the £90 administration fee to obtain a DRO from 6 April 2024. The number of IVAs registered in September was 16% higher than the average monthly number seen over the past 12 months. Bankruptcy numbers remained at less than half of pre-2020 levels and were also lower than numbers seen over the past 12 months.
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In the 12 months ending 30 September 2024, one in 427 adults in England and Wales entered insolvency (at a rate of 23.4 per 10,000 adults). This is higher than the rate of 22.4 per 10,000 adults (one in 446) who entered insolvency in the 12 months ending 30 September 2023.