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Individual Insolvencies At Lowest For Eight Years

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The number of individual insolvencies in England and Wales fell to its lowest level in eight years in 2013, according to government figures.

In total 101,049 individuals became insolvent last year, the lowest number since 2005.

On the corporate side, 14,982 companies went into liquidation, the lowest since 2007.

However, the figures are still considerably higher than they were before the financial crisis.

Just think what these figures would be like if it wasn't for the BoE base rate.

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In the comparison these numbers should be a lot lower considering point in the cycle but i guess alot is due to real wages at 2004 levels. The commentators highlight this in that once rates go up these numbers are likely to balloon out. There doesn't seem to be a doubt when they will rise it's just when!

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Repo rates are low too, but one suspects an awful lot of 'forbearance' is going on.Its how you define an 'insolvency' the above figures being the official act of being declared 'insolvent.'

Edited by aSecureTenant

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