Individual Insolvency Statistics, April 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.
Documents
Details
Main Messages for England and Wales
-
After seasonal adjustment, 9,651 individuals entered insolvency in England & Wales in April 2024. This was 10% higher than in March 2024 and 5% higher than in April 2023.
-
The individual insolvencies consisted of 648 bankruptcies, 3,436 debt relief orders (DROs) and 5,567 individual voluntary arrangements (IVAs). The number of IVAs registered in April was similar to numbers seen over the past 12 months. The number of DROs in April 2024 was a record high in the monthly time series going back to their introduction in 2009. This coincided with the removal of the £90 administration fee to obtain a DRO from 6 April 2024. The number of bankruptcies was similar to the past nine months and slightly higher than in April 2023. However, bankruptcy numbers remained at about half of pre-2020 levels.
-
In the 12 months ending 30 April 2024, one in 463 adults in England & Wales entered insolvency (a rate of 21.6 per 10,000 adults). This is lower than the individual insolvency rate of 24.1 per 10,000 adults (1 in 415) who entered insolvency in the 12 months ending 30 April 2023.
-
There were 7,649 Breathing Space registrations in April 2024. This is 16% higher than in April 2023.