Partly Cloudy

Partly Cloudy

max temp: 17°C

min temp: 13°C

ESTD 1874 Search

Bury St Edmunds: Bankruptcies are down, but other forms of insolvency are on the rise

06:00 25 June 2014

Darren Bullen, manager of the West Suffolk branch of Christians Against Poverty (CAP).

Darren Bullen, manager of the West Suffolk branch of Christians Against Poverty (CAP).

While the number of people being declared bankrupt in Bury St Edmunds has dropped by 64%, other forms of insolvency have actually risen, a debt specialist has said.


The Department for Business, Innovation and Skills has revealed that between 2009 and 2012 the number of bankruptcies declared in Bury has fallen by 64% (112 cases) following a question by the town’s MP David Ruffley.

Mr Ruffley said this demonstrated the strength of Bury’s economy and the UK’s recovery since the crash.

But Darren Bullen, manager of the Christians Against Poverty (CAP) west Suffolk debt centre, said these figures did not show the full picture as, in fact, two other forms of insolvency – debt relief orders (DROs) and individual voluntary arrangements (IVAs) –had increased in the Bury constituency.

He said between 2009 and 2012 DROs had risen from 46 to 98 and IVAs from 76 to 98.

He said while bankruptcy may be down nationally, the use of DROs “has rocketed”.

He added: “I’m really, really glad bankruptcies have dropped off and that’s great and I hope that continues, but as far as we are concerned – as a practitioner on the ground – bankruptcy is only one part of the story.

“What I’m seeing on the ground is things are not improving in the way these [Department for Business, Innovation and Skills] statistics suggest they might be. We still have a long way to go yet and lots of people really are struggling.”

The west Suffolk debt centre, which opened in October 2011, has seen 20 families go debt free, 10 through DROs, eight via bankruptcy and two through repayment.



Welcome , please leave your message below.

Optional - JPG files only
Optional - MP3 files only
Optional - 3GP, AVI, MOV, MPG or WMV files

Please log in to leave a comment and share your views with other East Anglian Daily Times visitors.

We enable people to post comments with the aim of encouraging open debate.

Only people who register and sign up to our terms and conditions can post comments. These terms and conditions explain our house rules and legal guidelines.

Comments are not edited by East Anglian Daily Times staff prior to publication but may be automatically filtered.

If you have a complaint about a comment please contact us by clicking on the Report This Comment button next to the comment.

Not a member yet?

Register to create your own unique East Anglian Daily Times account for free.

Signing up is free, quick and easy and offers you the chance to add comments, personalise the site with local information picked just for you, and more.

Sign up now

Nick Alston, Essex Police & Crime Commissioner.

Up to 15 police stations in Essex could be axed as the county’s force admits its property estate is “haemorrhaging money”.

The of the A130 Road at Rettendon, opened in 2002. PIC ROB SAMBROOK

A section of a major road in Essex will be upgraded into a three-lane highway to cater for a significant increase in traffic.

Motorists were sent on a diversion nearly 30miles (47.7km) long

We all bemoan the diversions which close the highways and byways of Suffolk when roadworks are set up.

The Orwell Bridge

There have been a number of crashes on the county’s roads this morning.

Mr Kathirithamby, the premises licence holder and director of KVS Food and Wine Ltd, in Bramford Road, was fined £803 and had his personal licence revoked after pleading guilty to selling alcohol to  children

An Ipswich man has pleaded guilty to selling alcohol to children from his shop.

Campaigners have been calling for a by-pass for decades.

Local councils are to spend £500,000 in a bid to kick-start proposals for a four villages’ by-pass – a move that could see the road opened by 2021.

The homeless in Ipswich tuck in to a hot meal at the Ipswich Winter Night Shelter. Photograph Simon Parker

The Ipswich Winter Night Shelter has launched a drive for volunteers ahead of opening its doors on December 2.

The Northgate High School team competing at a regional heat in Ford Dunton

Northgate High School pupils are preparing for a grand prix experience as they compete in the finals of the Greenpower International Kit Car competition.

Work is being stepped up at hospitals in Suffolk and north Essex to deal with “bed blocking” after new figures revealed more than 38,000 “bed days” have been lost because of the issue since 2012.

Ipswich Crown Court.

A Suffolk man who sexually assaulted two schoolgirls has been jailed for 10 and a half years.

Most read

Most commented

Topic pages