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Written question asked by Vincent Cable (Liberal Democrat) on Friday, 9 November 2007, in the House of Commons. It was due for an answer on Tuesday, 13 November 2007. It was answered by Pat McFadden (Labour) on Wednesday, 14 November 2007 on behalf of the Department for Business, Enterprise and Regulatory Reform.

Bankruptcy

Question
To ask the Secretary of State for Business, Enterprise and Regulatory Reform what proportion of individual voluntary arrangements were made (a) pre-bankruptcy and (b) post-bankruptcy in each year since the introduction of the Enterprise Act 2002; and if he will make a statement.
Answer

The personal insolvency provisions of the Enterprise Act 2002 came into force on 1 April 2004. The number of IVAs since then is set out in the following table:

2004-05 2005-07 2006-07
Total number of IVAs 11,613 24,947 47,975
Total number of post-bankruptcy IVAs 135 114 71
Total number of pre-bankruptcy IVAs 11,478 24,833 47,904
Post-bankruptcy IVAs as percentage of all IVAs 1.16% 0.46% 0.15%
Pre-bankruptcy IVAs as percentage of all IVAs 98.84 99.54 99.85

I do not intend to make a statement on this matter.

Secondary information

Type
Written question
Reference
164228; 467 c250W
Session
2007-08
Subjects
Bankruptcy
Link
View this Written question on www.publications.parliament.uk