Accredited official statistics
Individual Insolvency Statistics: July to September 2023
Statistics on new individual insolvencies in England and Wales, and related statistics for Scotland and Northern Ireland
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Details
- After seasonal adjustment, the number of individual insolvencies in
July to September (Q3) 2023 was 6% lower than in Q2 2023. The number
of debt relief orders (DROs) was the highest quarterly number since
their introduction in 2009. Bankruptcies also increased, but
individual voluntary arrangements (IVAs) were lower. The total number
of individual insolvencies was 15% lower than in Q3 2022.
- One in 441 adults (at a rate of 22.7 per 10,000 adults) entered
insolvency between 1 October 2022 and 30 September 2023. This is a
decrease from the 24.7 per 10,000 adults who entered insolvency in the
12 months ending 30 September 2022.
- There were 23,089 Breathing Space registrations in Q3 2023. This is
26% higher than in Q3 2022. Of the 23,089 Breathing Space
registrations, 22,722 were Standard Breathing Space registrations and
367 were Mental Health Breathing Space registrations.
While there has been a long-term decline in bankruptcy numbers, the
first three quarters of 2023 saw a slight increase from the 40-year low
annual number in 2022. DRO numbers increased in Q3 2023 to the highest
quarterly level since their introduction in 2009. IVA numbers continued
to decline, although lower numbers in Q3 2023 were partly caused by
delays to the Insolvency Service being notified of some IVAs approved in
August and the first half of September.
Updates to this page
Published 31 October 2023
