Debt Advisers Direct is a trading style of Freeman Jones and part of the Think Money Group. We have over 15 years' experience helping people in debt and won numerous awards.
The number of people filing for bankruptcy or an individual voluntary arrangement (IVA) increased by 4.2 per cent in the second quarter of 2007, compared with the same period a year earlier.
Figures released by Credit Action show there were 26,956 individual insolvencies in England and Wales during that period, which was a decrease of 8.1 per cent on the previous three months.
Research by the financial charity found that the majority of people who take out a loan to consolidate their debts go on to have further debt problems in the future. The statistics show that 28 per cent of all Britons, 12.8 million people, have taken out a loan to consolidate some or all of their borrowings.
Furthermore, approximately 14,000 properties were repossessed in England and Wales in the first six months of 2007, a year-on-year increase of 30 per cent.
Credit Action is a national money education charity founded in 1994.
