The Insolvency Service has released its annual report on Individual Insolvencies by Location, Age and Gender, England and Wales, 2015.
This statistical release provides breakdowns of individual insolvencies in England and Wales, at region, county, unitary authority and local authority levels. It also includes age and gender breakdowns of individual insolvencies at region level. The statistics cover the calendar years 2000 to 2015.
The key findings from the report are as follows:
- The total insolvency rate decreased to the lowest level since 2005
- The total insolvency rate decreased in all regions of England and Wales between 2014 and 2015
- The North East had the highest total individual insolvency rate whilst London had the lowest in England and Wales in 2015
- The bankruptcy rate decreased in all regions of England and Wales in 2015
- The DRO rate decreased overall and in all regions
- The IVA rate decreased overall and in all regions
- Of the lowest total insolvency rates, 9 out of 10 were in London or the South East
- Many of the areas with the highest individual insolvency rate were in local authorities with seaside resorts – but this pattern varied by insolvency procedure
- For the second year, the individual insolvency rate was higher for females than males
- Insolvency rates decreased for both males and females
- Different types of insolvency had differing gender breakdowns
- Insolvency rates were highest among the 35-44 age group for both males and females.
For further reading of the report please see the following:
Posted on July 18, 2016