- Friday, 22 May 2009IVA info published by the Ministry of Justice has highlighted the "painful impact" that the recession is having in Southampton, it has been claimed.
The Daily Echo reports that almost 10,000 people entered into the
IVA process across England and Wales in the first quarter of 2009.
More than 17,000 more petitioned to have themselves declared bankrupt over the same period.
Director of personal insolvency at accountant KPMG's south coast office Mark Sands tells the publication: "This means that a total of 27,413 people took the potentially life-changing step of placing themselves into personal insolvency."
He adds that this proactive approach now accounts for more than 90 per cent of IVA statistics.
Overall, the IVA info indicates growth of a third in the number of bankruptcies year-on-year and an 11 per cent increase in IVAs.
Meanwhile, John Bangham, director of the Cardiff branch of KPMG, told the Western Mail recently that the figures show "record levels" of consumer debt.
Recent IVA News23% of first-time buyers save for five years to raise a depositWed, 04 May 2011
Brits dealing with Finance Management should shop around for car insurance Wed, 04 May 2011
Parents, including those with Finance Management, advised to start saving for children's weddingsTue, 03 May 2011
Newlyweds may be in need of Finance Management plans after overspending on weddingTue, 03 May 2011
Renting rather than buying may be an option for Brits with Finance Management Thu, 28 Apr 2011
Consumers coping with Finance Management may want to shop around for cheap energy tariffsWed, 27 Apr 2011
Increasing number of Brits turning to loans for home improvementsWed, 27 Apr 2011
Brits, including those with Finance Management plans, to spend £267 on Royal Wedding Tue, 26 Apr 2011
Equity release can be used to 'become debt-free'Tue, 26 Apr 2011
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