The number of personal insolvencies in England and Wales continued to grow in the first three months of 2010, reaching 35, 682 up to March this year, a 17.9% increase on the same period in 2009.
Figures show that this is the fifth consecutive quarterly increase in personal insolvencies, while the number of businesses going into liquidation has fallen sharply.
Although the number of personal insolvencies only crept up, rising by 108 from the final quarter of 2009, there was some variation in the ways in which people went insolvent, the figures show.
There were 18,256 bankruptcies, the traditional way of dealing with overwhelming debt. This was down 10.7% on the same period the previous year, but up 7.3% on the previous quarter.
The number of Individual Voluntary Arrangements (IVA), which see people come to an official deal with their creditors, stood at 11,782, an increase of 20.1% on the same period last year, but at the lowest level since the first quarter of 2009.
Debt Relief Orders (DRO), the latest way of dealing with relatively small debts, was responsible for 5,644 of the total of personal insolvencies.
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