www.independent.co.uk
Personal insolvencies across England and Wales reached a 14-year high last year, with 130,550 cases recorded. According to the Insolvency Service, this marks the highest annual figure since 2010. Both individual voluntary arrangements (IVAs) and bankruptcies rose, driven by the high cost of living and increased debt burdens. While debt relief orders declined slightly, the overall surge highlights growing financial strain on households despite falling inflation. Experts warn that financial challenges persist for many consumers.
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