£1.4 billion bad debt written off
A RECORD £1.4 billion of bad debt was written off by creditors in 2006 as a result of individual voluntary arrangements (IVAs), according to figures released today.
Professional services firm KPMG estimated that this year saw around 110,000 people become insolvent - the first year the total has broken the 100,000 barrier.
Of those, around 45,000 people opted for an IVA as opposed to bankruptcy.
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Sunday 19 February 2012
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