0 £0.00
This item was added to your basket
Credit Strategy homepage

Dear visitor,
You are viewing 1 of your 1 free articles

We’ve invested in our content to provide more news, analysis, features, interviews and opinions across a wide range of Credit and Financial Services. Register now to access more of the trustworthy, insightful information that’s on offer.

Register now or Login

IVAs rise again in three months to June

The latest data from The Insolvency Service shows IVAs increased by a third, on average in the three months to June, while creditor bankruptcies have fallen by 90%.

Share on LinkedInShare on TwittereCard

The data published today (July 14) shows there were 8,428 IVAs registered on average each month, during the three months leading up to June 2020. This was a 33% increase on the same time frame in 2019. However, The Insolvency Service highlighted that these numbers may be artificially higher due to a technical issue experienced in May.*


The trend in IVAs followed a similar pattern in the three months to May.


In June in England and Wales, there were 454 bankruptcies. This comprised 431 debtor bankruptcies and 23 creditor bankruptcies. This is a 65% reduction in bankruptcies overall on June 2019. Creditor bankruptcies in particular fell by 91% compared to June 2019.


The Insolvency Service states that the fall in creditor bankruptcies will likely have been partly due to reduced HMRC enforcement activity, in combination with reduced running of the courts during lockdown.


The data also showed there were 1775 debt relief orders (DROs), a 15% reduction on the same month on the year prior.


According to The Insolvency Service, the fall in DROs corresponds with a drop in applications for those services.


The Insolvency Service also published data today on the number of corporate insolvencies in June.


* The Insolvency Service explained that technical issues when registering IVAs related in part to the time lag from an IVA being accepted and the date its registered against an insolvency practitioner. IVA statistics were also affected by technical issues experienced by an IVA provider, with nearly 5,000 IVAs that would have been registered in May 2020, that would otherwise have been registered between December and March.

Share on LinkedInShare on TwittereCard
Add New Comment
You must be logged in to comment. Login or Register to access enhanced features of the website.



FCA proposes extending mortgage repossessions suspension 

FCA proposes extending mortgage repossessions suspension 

Listen on demand webinar - How open banking can ensure responsible lending growth

Listen on demand webinar - How open banking can ensure responsible lending growth

Phil Reynolds - 60 second interview

Credit Strategy
LinkedIn page

Member of

Did you find our website useful?

Thank you for your input

Thank you for your feedback

creditstrategy.co.uk – an online news and information service for the UK’s commercial and consumer credit industry. creditstrategy.co.uk is published by Shard Financial Media Limited, registered in England & Wales as 5481132, Axe & Bottle Court, 70 Newcomen St, London, SE1 1YT. All rights reserved. Credit Strategy is committed to diversity in the workplace. @ Copyright Shard Media Group