Personal insolvency statistics - 2021

Total personal insolvencies in England and Wales by insolvency type

It is clear to see that the volumes and trends in personal insolvency are driven by the dominance of IVAs as the product of choice, being 74% of personal insolvency procedures initiated this year.

There has been a significant percentage drop in the overall numbers of personal insolvencies compared to pre-pandemic levels, driven by a reduction in bankruptcies and DROs.

Age range

The under 30s made up 20% of the IVAs this year but only 10% of bankruptcies and 16% of DROs. 

A higher proportion of bankruptcies (57%) and IVAs (59%) fell into the 30-40 age range than DROs (50%). In the over 50 age range, there were a higher proportion of bankruptcies (33%) and DROs (32%) as opposed to IVAs (21%).

Gender split

DROs appear to be the product of choice for more females than males. A number of factors might influence this trend, such as debt levels, wage discrepancies (and therefore credit availability) and homeownership versus renting trends.

The gender split is more marginal for bankruptcies and IVAs with a slightly greater percentage of males in a bankruptcy and a slightly greater percentage of females in an IVA.

Bankruptcy petitions

Creditor petitions made up 12% of the bankruptcy petitions made in 2021, being lower than in 2019 (19%).

Petition type

We expect to see creditors’ petitions increase now that restrictions and delays in the Courts decrease as the pandemic hopefully retreats. 

Top five petitioning creditors

Top five trustees in bankruptcy by appointments

Top five IVA Supervisors by appointments