Personal insolvencies fell slightly in the third quarter of 2011, according to the Insolvency Service, with a drop of 1% to 30,219 compared to the second quarter of the year. However, company insolvencies rose by 2% to 1,253.
Although the number of firms going bust is now 10% up on last year, personal insolvencies are down by 11%.
In the past year the number of bankruptcies has been falling and is now down 31% on a year ago. But the number of debt relief orders (DROs) has been rising, and the use of individual voluntary arrangements (IVAs) had fallen but has now bounced back.







