debt relief orders news

The record for the number of people declared insolvent has hit a record high, with 33,073 people in England and Wales declaring insolvency in the second quarter of 2009.

The figures, released by the Insolvency Service, are the highest since records began in 1960. The figures include bankruptcies, informal payment plans known as Individual Voluntary Arrangements (IVAs) and Debt Relief Orders (DROs).

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.