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LATEST GOVERNMENT INSOLVENCY FIGURES:
Latest DTI insolvency figures released at 9.30am, 2 Feb 2007 show insolvencies topped 100,000 in 2006.
Key Stats
1. The total number of individual insolvencies for 2006 (Q1 – Q4) is 107,288, an increase of 59% over the previous full year (2005, Q1 – Q4), 67,584.
2. The total number of IVAs for 2006 (Q1 – Q4) is 44,331, an increase of 118% over the previous full year (2005, Q1 – Q4), 20,293.
3. The latest quarter shows an overall increase in individual insolvencies of 7.1% over the previous quarter and 44.1% on the same quarter last year.
4. IVAs, in particular, rose by 3.9% and 81.9% respectively.
5. Individual bankruptcies rose by 9.6% and 24.6% respectively.
6. For Q4 2006, IVAs represented 43% of total individual insolvencies, compared to 34% for the same quarter a year ago.
Number of Insolvencies in England and Wales (seasonally adjusted)
| Individuals of which: |
|
|
|
Percentage |
| |
|
2005 |
2006 |
2006 |
2006 |
2006 |
Change Q4 2006 on: |
| |
|
Q4 |
Q1r |
Q2r |
Q3r |
Q4p |
Q3 2006 Q4 2005 |
| |
|
|
|
|
|
|
|
 |
| |
| |
|
20,679 |
23,531 |
26,125 |
27,828 |
29,804 |
7.1 44.1 |
|
| Bankruptcies |
|
|
13,675 |
15,321 |
15,002 |
15,569 |
17,063 |
9.6 24.8 |
|
| IVAs |
|
|
7,004 |
8,209 |
11,122 |
12,259 |
12,741 |
3.9 81.9 |
p = provisional, r = revised
DEBT STATISTICS FROM THOMAS CHARLES:
All research was commissioned by Thomas Charles and Co and conducted by YouGov Plc.
Key stats
- 8.4 million adults in the UK in £10k of unsecured debt
- 18% of women and 20% of men in £10k or more of debt
- Almost 1 in 5 (19%) of those with debts of over £10k reported some likelihood of insolvency
- 23% of those in £10k or more of debt have regular problems repaying their debts
Individual Voluntary Arrangements.
Please find below some key tables from the research.
How much is your current outstanding unsecured
(i.e., excluding mortgage) debt?
| OVERALL |
|
| |
Apr |
Aug |
Oct |
Jan |
|
| Less than £500 |
10% |
11% |
13% |
14% |
|
| £501 to £1,000 |
5% |
5% |
6% |
6% |
|
| £1,001 to £5,000 |
13% |
15% |
16% |
15% |
|
| £5,001 to £10,000 |
10% |
9% |
10% |
9% |
|
| £10,001 to £15,000 |
6% |
6% |
7% |
7% |
| |
| £15,001 to £20,000 |
4% |
3% |
5% |
5% |
| |
| £20,001 to £30,000 |
4% |
3% |
4% |
4% |
| |
| Over £30,000 |
5% |
1% |
4% |
4% |
| |
| Don’t know |
3% |
3% |
2% |
2% |
| |
| Prefer not to say |
11% |
10% |
7% |
7% |
| |
| I don’t have any debts |
30% |
33% |
28% |
28% |
| |
| Over £10k |
19% |
13% |
20% |
20% |
|
| OVERALL - IN MILLIONS OF ADULTS |
|
| |
Apr |
Aug |
Oct |
Jan |
|
| In £10k+ of debt |
8.0 |
5.5 |
8.4 |
8.4 |
|
| In 20k+ of debt |
3.8 |
1.7 |
3.4 |
3.4 |
|
| Over 30k of debt |
2.1 |
0.4 |
1.7 |
1.7 |
|
| MEN |
| |
| |
Apr |
Aug |
Oct |
Jan |
| |
| Less than £500 |
11% |
13% |
13% |
14% |
| |
| £501 to £1,000 |
4% |
6% |
5% |
6% |
| |
| £1,001 to £5,000 |
13% |
16% |
16% |
16% |
| |
| £5,001 to £10,000 |
10% |
10% |
11% |
7% |
| |
| £10,001 to £15,000 |
7% |
7% |
7% |
7% |
| |
| £15,001 to £20,000 |
4% |
4% |
5% |
5% |
|
| £20,001 to £30,000 |
4% |
3% |
5% |
4% |
|
| Over £30,000 |
5% |
2% |
5% |
4% |
|
| Don’t know |
2% |
3% |
2% |
2% |
| |
| Prefer not to say |
10% |
9% |
7% |
6% |
| |
| I don’t have any debts |
30% |
28% |
25% |
29% |
| |
| Over £10k |
20% |
16% |
22% |
20% |
| |
| WOMEN |
| |
| |
Apr |
Aug |
Oct |
Jan |
| |
| Less than £500 |
8% |
10% |
13% |
14% |
| |
| £501 to £1,000 |
5% |
5% |
6 % |
6% |
|
| In £10k+ of debt |
14% |
14% |
16% |
15% |
|
| £5,001 to £10,000 |
10% |
8% |
10% |
10% |
|
| £10,001 to £15,000 |
6 % |
5% |
7% |
6 % |
|
| £15,001 to £20,000 |
3% |
2% |
4% |
5% |
|
| £20,001 to £30,000 |
3% |
3% |
3% |
4% |
|
| Over £30,000 |
5% |
1% |
3% |
3% |
| |
| Don’t know |
3% |
3% |
3% |
2% |
| |
| Prefer not to say |
12% |
11% |
6% |
8% |
| |
| I don’t have any debts |
30% |
38% |
30% |
28% |
| |
| Over £10k |
17% |
11% |
17% |
18% |
| |
Do you ever have problems repaying your debts?
(All with debts over £10k) |
| |
| |
| OVERALL |
|
|
|
|
| |
| |
Apr |
Aug |
Oct |
Jan |
|
| Yes, every month |
9% |
11% |
15% |
9% |
|
| Yes, most months |
5% |
3% |
6% |
6% |
|
| Yes, quite frequently |
7% |
9% |
9% |
8% |
| |
| Yes but only occasionally |
28% |
26% |
28% |
31% |
| |
| No, never |
49% |
49% |
41% |
44% |
| |
| Prefer not to say |
2% |
3% |
1% |
2% |
| |
| Regularly (Quite |
|
|
|
|
| |
| frequently > Every month) |
21% |
23% |
30% |
23% |
| |
|
|
|
|
| OVERALL - IN MILLIONS OF ADULTS |
| |
| |
Apr |
Aug |
Oct |
Jan |
|
| Yes, every month |
0.8% |
0.9% |
1.3% |
0.8% |
|
| Yes, most months |
0.4% |
0.3% |
0.5% |
0.5% |
|
| Yes, quite frequently |
0.6% |
0.8% |
0.8% |
0.7% |
| |
| Yes but only occasionally |
2.4% |
2.2% |
2.4% |
2.6% |
| |
| No, never |
4.1% |
4.1% |
3.4% |
3.7% |
| |
| Prefer not to say |
0.2% |
0.3% |
0.1% |
0.2% |
| |
| Regularly (Quite |
|
|
|
|
| |
| frequently > Every month) |
1.8% |
1.9% |
2.5% |
1.9% |
| |
|
|
|
|
| MEN |
| |
| |
Apr |
Aug |
Oct |
Jan |
|
| Yes, every month |
8% |
8% |
15% |
6% |
|
| Yes, most months |
4% |
2% |
5% |
5% |
|
| Yes, quite frequently |
7% |
10% |
7% |
6% |
| |
| Yes but only occasionally |
27% |
29% |
27% |
32% |
| |
| No, never |
53% |
47% |
46% |
49% |
| |
| Prefer not to say |
1% |
4% |
1% |
2% |
| |
| Regularly (Quite |
|
|
|
|
| |
| frequently > Every month) |
19% |
20% |
27% |
17% |
| |
|
|
|
|
| WOMEN |
| |
| |
Apr |
Aug |
Oct |
Jan |
|
| Yes, every month |
11% |
13% |
16% |
12% |
|
| Yes, most months |
7% |
4% |
6% |
7% |
|
| Yes, quite frequently |
8% |
7% |
11% |
11% |
| |
| Yes but only occasionally |
29% |
23% |
30% |
29% |
| |
| No, never |
43% |
51% |
36% |
39% |
| |
| Prefer not to say |
1% |
4% |
1% |
2% |
| |
| Regularly (Quite |
|
|
|
|
| |
| frequently > Every month) |
26% |
24% |
33% |
30% |
| |
|
|
|
|
| How likely is it that you will become insolvent i.e. declare yourself bankrupt or take out an IVA? (All with debts over £10k) |
| |
| |
| OVERALL |
| |
| |
Apr |
Aug |
Oct |
Jan |
|
| Not at all likely |
86% |
80% |
83% |
82% |
|
| Quite likely |
8% |
12% |
10% |
12% |
|
| Very likely |
3% |
5% |
3% |
4% |
| |
| Certain |
2% |
3% |
4% |
3% |
| |
| Some likelihood |
13% |
20% |
17% |
19% |
| |
| OVERALL - IN MILLIONS OF ADULTS |
| |
| |
Apr |
Aug |
Oct |
Jan |
|
| Not at all likely |
7.224 % |
6.72% |
6.972% |
6.888% |
|
| Quite likely |
0.672% |
1.008% |
0.84% |
1.008% |
|
| Very likely |
0.252% |
0.42% |
0.252% |
0.336% |
| |
| Certain |
0.168% |
0.252% |
0.336% |
0.252% |
| |
| Some likelihood |
1.092% |
1.68% |
1.428% |
1.596% |
| |
| OVERALL - IN MILLIONS OF ADULTS |
| |
| MEN |
| |
| |
Apr |
Aug |
Oct |
Jan |
|
| Not at all likely |
87 % |
81% |
85% |
80% |
|
| Quite likely |
8% |
11% |
7% |
13% |
|
| Very likely |
4% |
7% |
3% |
4% |
| |
| Certain |
2% |
1% |
5% |
3% |
| |
| Some likelihood |
14% |
19% |
15% |
20% |
| |
| WOMEN |
| |
| |
Apr |
Aug |
Oct |
Jan |
|
| Not at all likely |
86 % |
79% |
80% |
83% |
|
| Quite likely |
10% |
13% |
14% |
11% |
|
| Very likely |
2% |
3% |
3% |
4% |
| |
| Certain |
3% |
5% |
4% |
2% |
| |
| Some likelihood |
15% |
21% |
21% |
17% |
| |
| Methodology |
| |
January 2007 Survey 1 (*)
- Total sample size was 2,315 adults. Fieldwork was undertaken between 9th - 11th January 2007. The survey was carried out online. The figures have been weighted and are representative of all GB adults (aged 18+).
January 2007 Survey 2 (**)
- Total sample size was 2,740 adults. Fieldwork was undertaken between 18th - 22nd January 2007. The survey was carried out online. The figures have been weighted and are representative of all GB adults (aged 18+).
October 2006 Survey
- Total sample size was 2,322 adults. Fieldwork was undertaken between 11th - 13th October 2006. The survey was carried out online. The figures have been weighted and are representative of all GB adults (aged 18+).
April 2006 Survey
- Conducted online and fieldwork took place from 29th March, 2006 to 3rd April, 2006 and comprised an Omnibus followed by an in-depth survey on 1336 adults. |
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