Insolvency rise Over the past two years the number of people going insolvent has risen sharply. There are two types of insolvency; bankruptcy and individual voluntary arrangements (IVAs). The number of people going bankrupt has steadily increased but this rise has been dwarfed by growth in IVAs. But in the first three months of 2007 the rate of increase in insolvency slowed. "This is because some creditors are taking a hard line over IVAs and rejecting them," Pat Boyden, an insolvency specialist at PricewaterhouseCoopers, said. "As for insolvency as a whole, borrowing on credit cards and loans has been fairly flat over the past year. Borrowing at Christmas was not as big," Mr Boyden added.
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