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Bankruptcies have fallen to 15-year low – official figures

The number of people going bankrupt has fallen to a 15-year low in England and Wales according to official figures, further showing a healthy economy. 
 
Figures from the government’s Insolvency Service show that 4,886 bankruptcy orders were made between July and September, marking a fall of almost one fifth (19%) compared with the same period in 2013 and the lowest level recorded since the first quarter of 1999.
 
Overall, personal insolvencies (inability to pay debts) had been creeping upwards over the previous two quarters, but the Insolvency Service said the latest figures show they are now back on a “generally decreasing trend”.​

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