Insolvency figures to be released on Friday are expected to show a record number of people went bust in the first three months of the year, according to experts.

Official Statistics are are likely to show that about 30,000 individuals went bankrupt or took out an Individual Voluntary Arrangement (IVA) between January and March.

But debt experts are predicting a slowdown in the overall growth rate of insolvencies in the face of a toughening stance by creditors over IVAs.

A rise in IVA rejection rates could, however, have a knock-on effect on bankruptcy figures, with evidence indicating a hike in the number of people being declared bankrupt in the last month.

Between October and December last year, 29,804 personal insolvencies were recorded by the Insolvency Service - an increase of 44% on the same period a year earlier.

View this full article at Channel 4 news.

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