Some experts believed the fourth quarter would be less due to delaying the process over the holidays, but it didn't quite work out that way. The credit crisis pain is hardly over.
The number of people entering into insolvency in England and Wales rose to a record total of 134,142 last year, official figures from the Insolvency Service showed today, and experts say the figure is likely to rise further in 2010.
Rising unemployment and the ongoing impact of the credit squeeze drove the figure beyond the previous record of 107,288 personal insolvencies set in 2006, and meant that over the course of the year one in every 320 adults entered into formal arrangements with their creditors.
