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Insolvencies reach new record
Insolvencies reach new record
Last Modified: 02 Feb 2007
By:
Emily Reuben
The number of people going bankrupt or taking out IVAs reached a new record in 2006.
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A record number of people declared themselves insolvent last year.
For the first time, 100,000 either went bankrupt or took out stringent debt repayment plans, called Individual Voluntary Arrangements or IVAs.
But Channel 4 News has learnt that the Advertising Standards Authority has widened its investigation into the advertising of IVAs after complaints from the shadow chancellor.
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