UK Bankruptcies have actually come DOWN this year!
Posted by markharrison on November 27, 2007
Figures release by the Government’s Insolvency Service seem to fly in the face of what people have been expecting.
Analysis of the figures done by BBC news has shown that insolvencies, bankruptcies, and IVAs are all down on last year:
- Insolvencies down 5% to 26,072
- Bankruptcies down 2.1% to 15,833
- IVA down 4.3% to 10,239
What’s not clear is whether the emergence of various “Sale and rentback” organisations (including, well, mine!), that buy houses from people in financial difficulty and rent them back to the previous owners have helped reduce these numbers.
Of course, “expert predictions” for next year are showing that these numbers are going to come back up again, suggesting that the pickings for smart property investors able to move quickly to help people with problems will be even richer.