The head of the Insolvency Service hits back at its critics
The dramatic economic downturn flipped the world of many people inside out and they find themselves struggling and unable to cope through no fault of their own.
Our statistics for the second quarter of 2014 were published last Monday, and some people were quick to dismiss the take-up of the new alternatives to bankruptcy as a drop in the ocean. They point to the high number of accounts in mortgage arrears or to the increasing number of informal deals being done with the banks as evidence that the new solutions are not working. This ignores two important points.
Firstly, not everyone in arrears...
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