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Personal insolvencies fall in England and Wales

Fewer people were declared insolvent in England and Wales in the first three months of the year despite the Christmas spending rush.

There were 30,162 personal insolvencies in the first quarter, down 1.7% on the previous three months and the fourth consecutive quarterly fall.

The Insolvency Service figures show the number was 15.5% down on the same period a year earlier.

But insolvency experts expect cases to rise again later in the year.

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Post Date: May 6th, 2011