(Bloomberg) -- U.K. personal insolvencies rose 60 percent in the first three months of the year from the same period in 2006, a report today showed.
So-called individual voluntary arrangements also rose, by 33 percent from the same period a year earlier, said TDX Group, a debt manager whose clients include HSBC Holdings Plc, Europe's largest bank. An IVA is a form of insolvency that allows individuals to write off most of their debt and make gradual repayments on the remaining amount.
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