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07 Feb 2010
Personal insolvency hits record high
The number of people who were declared insolvent in England and Wales hit a record high in the last quarter of 2009,
The figures from the Insolvency Service marked the depth of the recession, with 35,574 people declared insolvent in the last three months of the year.
That was a rise of 25% on the same period a year earlier.
The number of businesses going bust also rose to a new annual record in 2009, with 6,355 going under.
Over 2009 as a whole, there were 134,142 people declared insolvent in England and Wales. This was up 26% compared with 2008, and higher than the previous record - in 2006 - of 107,288. Records began in 1960.