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Individual insolvencies rose by 8.8% in the last financial quarter according to a new report released today.
The number of people declared insolvent between June and September hit 27,087 according to the Insolvency Service, although the increase was largely expected due to the current economic climate.
Keep it quiet, but the dreaded “R†word is on the way.
There’s been no hiding from the gloomy predictions of the current economic climate. The “credit crunch†has hit the housing market hard and unstable food and energy prices have hit family finances hard, has left many of us just waiting for the recession, defined as two successive periods of reduced economic output, to officially begin.
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