Fewer people declared insolvent in last quarter according to figures released by the Insolvency Service

The number of people declared insolvent in England and Wales during the second quarter of 2010 has fallen by 2.6 per cent marking the first drop since 2007. The figures released by the Insolvency Service show that 34,743 people were made insolvent in the last three months, down from 35,682 in the first quarter of the year. These included bankruptcies, debt relief orders (DROs) and individual voluntary arrangements (IVAs).