A RECORD 100,000 people — equivalent to the population of Exeter — will go bankrupt this year, debt specialists predicted yesterday, after official figures showed another surge in personal insolvencies.
Individual insolvencies jumped to a record 27,644 in the three months to September, up 5.7 per cent on the previous quarter and 55.4 per cent higher than in the corresponding period in 2005.
The Government’s Insolvency Service recorded a particularly steep rise in Individual Voluntary Arrangements — pacts between borrowers and lenders enabling debtors to walk away from some of their obligations.
IVAs in the three months to September soared to 12,228, up 9.8 per cent on the previous quarter and up 117.9 per cent on the same period in 2005.
The rise in personal