3,436 Debt Relief Orders (DROs) issued in April 2024, UK Insolvency Service, record high, after fee removal and expanded debt coverage.
3,436 Debt Relief Orders (DROs) were issued in April 2024 by the UK's Insolvency Service, a record high, coinciding with the removal of a £90 administration fee and increased debt coverage. In April, 9,651 people entered formal personal insolvency, a 10% increase, with 648 bankruptcies and 5,567 Individual Voluntary Arrangements (IVAs). Breathing Space registrations rose 16% to 7,649, offering temporary debt relief.
May 17, 2024
3 Articles