Indebtedness and bankruptcy

Tomorrow will likely see news stories about the continuing rise of people in debt. If you are curious about where these stories come from, the source is raw data published today by the Department for Constitutional Affairs. The quarterly statistcs show the number of companies winding up and bankruptcy petitions. The link above also provides quarterly statistics on mortgage and landlord possession statistics.

In the third quarter of 2006 the following number of petitions were issued:

  • 12,923 debtors’ petitions – an increase of 37% on the petitions in the same quarter of 2005.
  • 2,877 company winding up petitions – a decrease of 3% on the petitions in the same quarter of 2005;
  • 5,099 creditors’ petitions – an increase of 0.2% on the petitions in the same quarter of 2005;

The DCA states that this information is different to the quarterly statistics published by the Insolvency Service, which show the number of company winding-up orders (compulsory liquidations) and bankruptcy orders made by the court, these can be found at http://www.insolvency.gov.uk/otherinformation/statistics/insolv.htm

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