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Deloitte expects official figures to reveal 32,000 personal insolvencies in Q409 |
Commenting ahead of tomorrow’s national insolvency statistics, Louise Brittain, partner in Deloitte’s Contentious Insolvency Group, said: “We predict that the number of people filing for bankruptcy in the last quarter of 2009 will drop slightly on Q3’s figure from over 35,000 to the 32,000 mark.
“This drop reflects people’s propensity to hold off addressing financial issues during the festive season until the New Year; as a result we can expect the number of people filing for bankruptcy in Q1 to be significantly higher.
“Although the economy may have emerged from recession, I fully expect 2010 to break all personal insolvency records, with the annual figure reaching as high as 145,000 petitions. With increasing financial pressures combined with rising unemployment levels, the number of creditors pursuing debts will undoubtedly rise out of necessity; and as debt relief orders becoming more widespread, it is inevitable that we will see a consequent rise in the number of people filing for bankruptcy. The figure has yet to peak, and unfortunately 2010 will only see current figures rise.”
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