- Tuesday, 7 April 2009The number of people setting up an IVA in the coming months could reach as high as 150,000, according to accountancy services group KPMG.
In a recent report on the UK's communal financial prospects, the organisation forecasts that more than 150,000 people in all are likely to be declared bankrupt, get an IVA or look to new Debt Relief Orders (DROs) during the remaining months of 2009.
And the introduction of DROs has been suggested as a driving force behind the predicted record-breaking figure.
KPMG's director of personal insolvency Mark Sands says: "DROs, together with the expected increase in unemployment, are likely to lead to record levels of personal insolvency."
The group previously noted a year-on-year increase in the number of people setting up an IVA in the last quarter of 2008.
Almost a fifth (19 per cent) more people entered into an IVA or were declared bankrupt in the last three months of the year than in the same quarter of 2007.
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