The number of people trying to have themselves declared bankrupt has risen Figures from the Ministry of Justice show a 20 percent rise in the number of petitions lodged in the court by debtors in the first 3 months of the year. Other debt solutions could help you avoid bankruptcy. An Individual Voluntary Arrangement (IVA) is suitable for people owing more than £15000. You can pay back a more manageable monthly amount over 5 years before going debt free. Debt Relief Orders (DRO) can help people owing smaller amounts. Bankruptcy proceeding started by creditors rose by 4 percent in the first quarter of 2010.
More people asking to be declared bankrupt
May 14, 2010 By
