National statistics
Individual Insolvency Statistics: January to March 2023
Statistics on new individual insolvencies in England and Wales, and related statistics for Scotland and Northern Ireland
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The consultation will be open from 16 May to 30 June 2023.
- After seasonal adjustment, the number of individual insolvencies in January to March (Q1) 2023 was 2% lower than in Q4 2022. Numbers of debt relief orders (DROs) and bankruptcies were higher, but individual voluntary arrangements (IVAs) were slightly lower. The total number of individual insolvencies was 9% lower than in Q1 2022.
- One in 408 adults (at a rate of 24.5 per 10,000 adults) entered insolvency between 1 April 2022 and 31 March 2023. This is an increase from the 24.1 per 10,000 adults who entered insolvency in the 12 months ending 31 March 2022.
- During Q1 2023, there were 29,017 (seasonally adjusted) individual insolvencies, as shown in Figure 1, comprised of 20,246 IVAs, 7,034 DROs and 1,737 bankruptcies.
- There were 23,179 Breathing Space registrations in Q1 2023. This is 34% higher than in Q1 2022. Of the 23,179 Breathing Space registrations, 22,770 were Standard Breathing Space registrations and 409 were Mental Health Breathing Space registrations.
Published 28 April 2023
Last updated 17 May 2023 + show all updates
Last updated 17 May 2023 + show all updates
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Information added about an open consultation relating to proposed changes to this statistics publication.
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First published.