Accredited official statistics
Individual insolvencies, March 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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In March 2025, 9,205 individuals entered insolvency in England and
Wales. This was 7% lower than in February 2025 but 2% higher than in
March 2024.
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The individual insolvencies consisted of 613 bankruptcies, 3,490 debt
relief orders (DROs) and 5,102 individual voluntary arrangements
(IVAs). The number of DROs in March 2025 was 4% lower than in
February 2025. DROs have been at record-high monthly numbers
since the abolition of the upfront £90 fee in April 2024, with the
45,804 DROs in the past 12 months being nearly twice as high as the
long-term annual average. The number of IVAs registered in March 2025
was 9% lower than the average monthly number seen in 2024. Bankruptcy
numbers remained at about half of pre-2020 levels and were also 11%
lower than in March 2024.
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In the 12 months ending 31 March 2025, one in 415 adults in England
and Wales entered insolvency (at a rate of 24.1 per 10,000 adults).
This is higher than the rate of 21.3 per 10,000 adults (one in 469)
who entered insolvency in the 12 months ending 31 March 2024.
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There were 8,033 Breathing Space registrations in March 2025. This is
4% higher than in March 2024.
Updates to this page
Published 25 April 2025
