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12% annual jump in personal insolvencies across England and Wales in January
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Personal insolvencies in England and Wales rose by 12% in January 2025 compared to January 2024, with 9,706 people entering insolvency. This figure was 3% lower than December 2024. Bankruptcies (592) remained at about half of pre-2020 levels, while debt relief orders (DROs) increased by 82% compared to the 2014-2023 average. Individual voluntary arrangements (IVAs) decreased by 6% compared to the 2024 average. Company insolvencies rose by 6% in January 2025 compared to December 2024 and by 11% compared to January 2024. The Insolvency Service noted that personal insolvency figures highlight ongoing household debt challenges.
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