The 3,847 DROs registered in January 2025 was 82% higher than the long-term (2014 to 2023) monthly average of 2,114, although below a record high of 4,336 seen in June 2024, the Insolvency Service said.
In addition to the personal insolvency figures, there were 8,240 breathing space registrations under the debt respite scheme in January, which was 1% lower than in January 2024.
Totalling 5,267, the number of IVAs registered in January 2025 was 6% lower than the average monthly number seen in 2024, the report said.
The number of people going financially insolvent across England and Wales jumped by 12% in January compared with the same month a year earlier, according to Insolvency Service figures.
Some 9,706 people entered insolvency last month, which was 3% lower than in December 2024 but 12% higher than in January 2024.
