All the updated news related to debt relief

All the news related to debt relief updated in real time

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Personal Finance

Thousands seek breathing space from debts as insolvencies rise

More than 75,000 registrations for breathing space from debts have been recorded since May last year, as the number of people going financially insolvent across England and Wales has increased annually. And with households facing a tough winter ...

02 Aug 2022 at 11:53

Government approach to debt relief for poorer nations ‘not good enough’, MPs say

MPs have criticised the Government for ruling out a consultation on proposed laws to force private creditors to take part in debt relief efforts in low-income countries. The International Development Select Committee said the current approach ...

08 Jun 2023 at 08:57

Personal Finance

Rising used car prices ‘have been barrier to people entering insolvency’

Rises in used car prices have been a barrier to people entering insolvency in recent years, according to a financial support service. Money Wellness made the comments ahead of changes to debt relief orders (DROs) this week, which will raise ...

25 Jun 2024 at 12:31

Household Support Fund extension welcomed but Hunt warned it is a temporary fix

A six-month extension to a fund helping the most vulnerable people struggling with the cost of living is welcome but is “only a temporary fix” with longer-term help needed, campaigners and councils said. Chancellor Jeremy Hunt had been ...

06 Mar 2024 at 17:30

Personal Finance

25% jump in people needing breathing space from debts last year

The number of people needing breathing space from their debts jumped by 25% in 2023 compared with the previous year. Across England and Wales, there were 88,390 registered breathing spaces in 2023, comprised of 86,928 standard and 1,...

30 Jan 2024 at 11:25

Personal Finance

Record number of people take out debt relief orders in April

The number of people taking out a debt relief order (DRO) reached a record high in England and Wales in April, according to new figures. Some 3,436 DROs were recorded by the Insolvency Service in April, marking a record high in the ...

17 May 2024 at 16:35

World

Pope seeks debt reduction for poorer countries to mark Vatican’s jubilee year

Pope Francis has called on wealthy countries and institutions to substantially reduce, if not outright cancel, debt as a matter of justice on the occasion of the Vatican’s 2025 Jubilee Year. In a message for world peace, Francis ...

12 Dec 2024 at 12:24

City

Bankruptcies in England and Wales slump to lowest levels since 1989

The number of people going bankrupt across England and Wales last year was the lowest since 1989, according to official figures. The decrease helped the overall number of personal insolvencies fall to a four-year low last year. ...

28 Jan 2022 at 11:55

Personal Finance

Personal insolvencies jumped by 14% annually in 2024 across England and Wales

The number of people going financially insolvent in England and Wales last year was 14% higher than in 2023, driven by debt relief orders (DROs) jumping to a record high, according to the Insolvency Service. Some 117,947 ...

21 Jan 2025 at 11:13

Personal Finance

Personal insolvencies jumped by 8% month on month in April in England and Wales

The number of people going financially insolvent in England and Wales jumped in April, according to Insolvency Service figures. Some 10,012 people entered insolvency in England and Wales last month, which was 8% higher ...

20 May 2025 at 10:59

Personal Finance

Record number of people took out debt relief orders in May

A record number of people in England and Wales took out debt relief orders (DROs) in May, according to Insolvency Service figures. The number of DROs reached a new record monthly level of 3,716, an increase of 8% from ...

18 Jun 2024 at 11:24

Personal Finance

12% annual jump in personal insolvencies across England and Wales in January

The number of people going financially insolvent across England and Wales jumped by 12% in January compared with the same month a year earlier, according to Insolvency Service figures. Some 9,706 people entered ...

18 Feb 2025 at 15:33

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