The figures from the Insolvency Service consisted of 10,835 Individual Voluntary Arrangements (IVAs), a decrease of 8.0% on the corresponding quarter in 2010.
There were also 12,539 bankruptcies, representing a decrease of 31.3% on the corresponding quarter of 2010 and 6,788 Debt Relief Orders (DROs), up 20.3% on the corresponding quarter in 2010.
Corporate insolvencies in the first quarter of this year were up again rising 3.7% on the previous quarter to 4,121.
Bev Budsworth, managing director of The Debt Advisor, said: “Levels of personal insolvencies have been reducing throughout 2010 but I believe that we may be on the verge of seeing levels rise again to around 130
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