Personal bankruptcy - it is the new frontier. Over the last decade, court mandated bankruptcies and IVAs (individual voluntary arrangements) have enjoyed a five fold increase. All the paraphernalia of financial failure has thrived; debt collection agencies, loan sharking, and debt advisory services. It is, of course, the dark side of our debt fueled economic boom and bust.
5 comments:
Funny how it flattened out in 2008.
Yeah, what the heck happend to these figures around 2006? Up to that point growth in personal busts was tracking the credit bubble, then suddenly flat line. Suspect data?
An explanation of the flat line would have been helpful Alice. Its what everyone is talking about....
"Why hasnt Alice explained the big flat line..."
See Fig 2/Table III Individual Insolvencies in England and Wales
http://www.insolvency.gov.uk/otherinformation/statistics/200902/index.htm
Regards,
Dave.
... and Fig 5 (above), which is more like Alice's plot.
Dave.
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