Record number of people in England and Wales declared themselves bankrupt

According to recent statistics, in 2010 a record number of people in England and Wales declared themselves bankrupt, reports Sky News.



UK Insolvency Service said that the bankruptcy or the so-called individual voluntary debt settlement announced more than 135 thousand people. In 2009 this figure was about a thousand less, which was a record figure for the last 50 years.

In the UK, the number of cases of personal insolvency to rise sharply beginning in 2004. Prior to this for 25 years, one person ruined by 1800, it is now 1 in 323.