BusinessBusiness RecoveryDeloitte predicts personal insolvencies to remain at 35,000

Deloitte predicts personal insolvencies to remain at 35,000

No let up for individual insolvencies according to Deloitte partner

Individual insolvencies will remain at a record level of 35,000 each quarter
a
Deloitte
partner said.

Louise Brittain, partner in the contentious insolvency division, said:
“Although the economy may have technically emerged from recession, the impact on
consumers is still filtering through, and will continue to do so over the coming
months.

“Whilst the corporate sector may be turning a corner, the same cannot be said
for individuals. Ongoing financial pressures will be compounded not only by the
fallout from the festive season, but also by concerns around disposable income
and the impact of any measures taken by the next government to reduce national
debt.”

Brittain added she also expects the number of high net worth individuals
filing for bankruptcy to increase over the coming months.

Last year more than 130,000 individuals filed for personal insolvency, and
the final quarter of 2009 broke all records with 35,574 individuals filing in
any three month period.

Further reading:

Personal
insolvencies hit record high

Insolvency
Act: all change

KPMG
predicts record bankruptcies

Related Articles

Big Four insolvency specialist joins Gibson Hewitt

Business Recovery Big Four insolvency specialist joins Gibson Hewitt

1y Richard Crump, Writer
Due diligence on BHS 'extensive' GT partner tells MPs

Accounting Firms Due diligence on BHS 'extensive' GT partner tells MPs

2y Chris Warmoll, Writer
MPs hear from trio of Big Four firms over BHS advice

Accounting Firms MPs hear from trio of Big Four firms over BHS advice

2y Chris Warmoll, Writer
R3 calls for creditor 'breathing space' to help turn companies around

Accounting Standards R3 calls for creditor 'breathing space' to help turn companies around

2y Chris Warmoll, Writer
R3 cautiously welcomes advent of simpler bankruptcy regime

Business Recovery R3 cautiously welcomes advent of simpler bankruptcy regime

2y Chris Warmoll, Writer
Buyers found for two Powa companies

Business Recovery Buyers found for two Powa companies

2y Chris Warmoll, Writer
Deloitte announce redundancies at Powa Technologies

Business Recovery Deloitte announce redundancies at Powa Technologies

2y Chris Warmoll, Writer
Taking Stock: Spotting accounting flaws is child’s play

Audit Taking Stock: Spotting accounting flaws is child’s play

2y Taking Stock