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The Insolvency Service is currently seeking views on proposed changes to our Official Statistics publications.
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.
