Accredited official statistics
Individual insolvencies, February 2025
Monthly tables and commentary on the numbers and rates of individual insolvencies, including bankruptcies, debt relief orders and individual voluntary arrangements in England and Wales and Northern Ireland, and quarterly information for Scotland. For England and Wales, Breathing Space scheme statistics are also included.
Documents
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Details
Main messages for England and Wales
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After seasonal adjustment, 10,147 individuals entered insolvency in
England and Wales in February 2025. This was 4% higher than in January
2025 and 5% lower than in February 2024.
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The individual insolvencies consisted of 600 bankruptcies, 3,865 debt
relief orders (DROs) and 5,682 individual voluntary arrangements
(IVAs). The number of DROs in February 2025 was similar to
January 2025. DRO numbers have been at record-high monthly levels
since the abolition of the upfront £90 fee in April 2024. The number
of IVAs registered in February 2025 was similar to the average monthly
number seen in 2024. Bankruptcy numbers remained at about half of
pre-2020 levels and were also 10% lower than in February 2024.
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In the 12 months ending 28 February 2025, one in 417 adults in England
and Wales entered insolvency (at a rate of 24.0 per 10,000 adults).
This is higher than the rate of 21.9 per 10,000 adults (one in 457)
who entered insolvency in the 12 months ending 29 February 2024.
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There were 7,889 Breathing Space registrations in February 2025. This
is similar to February 2024.
Updates to this page
Published 18 March 2025
