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Women in IVAs and bankruptcy ‘on the rise’

Posted in IVA News on 14th August 2010.

There has been a sharp rise in the number of women entering into IVAs and bankruptcy in the last decade, according to the Insolvency Service.

The total number of women going bankrupt has risen almost five times in the past ten years, with a 28% increase in the last year alone.

And there was a 22% increase in the number of women entering into an IVA in 2009, compared with the previous year. By comparison, there was a 20% increase amongst men entering an IVA.

The statistics also show that younger women are most affected. The 25-44 age group made up almost two thirds of female bankruptcies.

A separate Insolvency Service report, published a few years ago, showed a steady rise in the female proportion of bankrupts in England and Wales. In 2001/2002, 31.7% of all bankrupts were female, rising steadily to 39.2% in 2004/2005.

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