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Personal insolvencies on the up

12 May 2017

The rate of personal insolvencies has reached a three-year high with 24,531 individuals subject to some sort of insolvency arrangement in the first three months of 2017.

This rise has been put down to weak wage growth and rising prices.

The Insolvency Service also revealed that the number of firms unable to pay their debts also rose, with 5.3% more going bust, when compared to a year ago.

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