The nnumber of individuals applying for insolvency jumped to the highest level in almost three years in the first three months of 2017, in a further sign of the mounting financial pressure facing UK households.

Personal insolvencies in England and Wales totalled 24,531 between January and March, up 6.7% on the previous quarter and 15.7% higher than the same period a year earlier.

Thus trend can only get worse. As I have noted in the last couple of weeks, pay increases are now falling behind inflation and there are signs that the availability of consumer credit is falling. Increasingly ends will not meet and people will be facing bankruptcy. Brexit will impose a very high human cost.

Then it is explained to the Snippa Spud:

Solanum Tuberosum says:
April 30 2017 at 8:58 am
I think you’re mistaken that this is a portent of doom. The increase is down to a rise in IVAs, and over the last year or two it has become easier to get one with the bottom offer now being as low as £60/month and quite a few ahem ‘factory practitioners’ appearing in this sector. In addition some companies providing informal debt management plans have been pulling out and when their clients are reassessed and being transferred from the informal sector onto an IVA.

Richard Murphy says:
April 30 2017 at 9:37 am
What colour gloss is your favourite?

King Edward says:
April 30 2017 at 10:24 am
The data is a sum of three elements : IVAs , Debt Relief Orders and Bankruptcy orders. The last two of these are broadly flat. The rate of company liquidations recorded separately are also broadly flat. The figures do not show those on Debt Management Plans. So the rise in the headline number being down to an increase in IVAs is not in doubt.
So why should IVAs have been rising when the others have not?

There’s some information here
which shows people coming off Debt Management Plans. They have likely been switching to another option i.e. an IVA.


25 thoughts on “Sigh”

  1. Ladies and Gents, break out the party hats, balloons and those things you blow that unravel and go bzzzz….. The Fair Tax Mark (v2.0) was 3 years old last Friday (it is 4 years since Ritchie’s v1.0 launched to failure).

    From the “Community Share offer” dated this day 3 years ago…
    “We have created a detailed business plan that proposes modest but steady growth to a turnover of £150,000 after three years (and having accredited and licensed roughly 350 companies).”
    “We do not, however, rule out the potential for much more significant growth.”

    Nothing in the plan for “we do not, however, rule out the potential to be a dismal failure”. Only 25 Fair Tax accredited companies listed on the website (it was “nearly 30” so have some not renewed?). 8 are co-ops, 1 is a political party. So no interest from real business at all.

    Other successes….

    The competition launched in November 2014 to give 25 free Fair Tax Marks to coffee shops and record shops (going for the jugular of Starbucks and Amazon obviously) and never heard of again. 0 winners so let’s assume 0 entries.

    The ability of a FTSE 100 company to keep a Fair Tax Mark while not paying minimum wage.

    The ability of a large co-op to keep its FTM while not paying minimum wage.

    Granting a FTM to a company that funds the organisation that runs the FTM.

    The FaIr Tax Map trying to cover up the dismal failure by listing any office, building or other property for any of the companies listed.

    The first fair tax accountant (a bloke in a room with a secretary and bugger all assets on his balance sheet).

    The great success of the Fair Tax Pledge where individuals can, for free, agree with the FTM principles. 147 signed up many of which are spam, me, “Murphy” or a combination of all 3.

    The Fair Tax Mafia attempting, and failing to get Manchester City Council to require protection money be paid to the FTMafia before you can supply services to the council.

    Who can wait for the next 3 years? They will still be going as they are creaming it in from the couple of FTSE ones, but let’s see if the 350 company total can be reached by 2020.

  2. Science:
    Idea > test > results > analyse > conclusion


    Conclusion > Write

    Given that Murphy’s face is merely ugly, not disfigured, one can only assume that he never makes those sarky responses face to face.

  3. Thank you dearieme
    From wiki: Pink Fir Apple’ is a maincrop potato variety with a pink skin and cream, waxy flesh. It has a long, knobbly shape
    Not heard of it before but sounds delicious. I plan to order some to grow.

  4. Theo – thanks for the praise but it is undeserved by this bull in a china shop. The attribution belongs elsewhere and my congrats go with it.

    Bongo – if you can put up with knobbly, then you should also try Ratte which has even better flavour I’d reckon.

  5. IVA is also a popular option now you can go shopping for creditor protection within the EU. There are “factory practitioners” selling IVAs in Germany. No idea if Brexit will stop that but it could also be more continentals wanting to get it done while they still can.

  6. Bloke in North Dorset

    I learnt a new word recently which I thought summmed up Spud perfectly:


    Autoethnography is a form of qualitative research in which an author uses self-reflection and writing to explore their personal experience and connect this autobiographical story to wider cultural, political, and social meanings and understandings.[1][2] Autoethnography is a vulnerable, self-reflective form of writing used across various disciplines including communication studies, performance studies, education, English literature, anthropology, social work, sociology, history, psychology, marketing, business and educational administration, arts education, health and exercise sciences, among others.”
    And then I thought, hmm, maybe Spud doesn’t even do that much thinking.

  7. Elsewhere on The Insufferable One’s site, someone he knows is about to die and he claims…..

    ” two doctors confirmed my own suspicion”.

    You see. He knew. Now doctors have finally caught up with his wisdom.

    Now he’s a fucking doctor. Or, no doubt, better than a doctor. A messianic prophet of medicine.

    I’ll bet next he offers to lay his hands on and heal the poor sod.

  8. @Noel

    Suggests also just how many of the fawning cunts who populate his blog actually run businesses themselves.

    I bet they’d have got a discount to get a FTM if any of them had.

  9. Bloke in Costa Rica

    Fir Apples make the best potato salad. The best!

    As I’ve said before, Murphy is beset with what the Jesuits used to call “invincible ignorance”. It’s not just not knowing something, but refusing to believe there is something to know. When you’re starting from as low a knowledge base as Murphy, that’s pretty deadly.

  10. Andrew C

    Battling severe odds, Snippa managed to turn a post about a dying person into something about himself! I wonder whether Quakers really let him into a meeting house

  11. What colour gloss is your favourite?

    Nasty little shit. Note the total absence of actually engaging with what was said.

  12. The Meissen Bison

    Andrew C: Elsewhere on The Insufferable One’s site…

    I had to say goodbye to a friend yesterday. Medicine is not, of course an exact science, but two doctors confirmed my own suspicion that I am unlikely to see this person alive again.

    I read it as a sort of metaphysical epiphany and that he is himself the ‘friend’ referred to since there surely can’t be any other.

    But I like your theory because it fits well with his gift for inexact science (though the ‘friend’ reference remains a poser).

  13. Actually Q3 of 2016 is NOT “nearly three years ago”. So Murphy is just plain wrong (not actually lying, just incapable of looking at the facts, when there is “adjusted” data that can be read to conform with his prejudices).
    Table 4b: total individual insolvencies for E&W shows Q1 2017 as 23,154 againat 25,284 for Q3 2016. Total insolvencies for Scotland (Table 11) increased by 89 to 2.513 from 2,424 but that increase (and 165 increase in NI) ares insignificant compared to the 2,130 decrease for E&W.

    Total individual insolvencies have decreased by juist over one-third since the 2010 election, after rising fivefold under New Labour.

    Murphy’s ignorance is due, in part, to his inability to read and understand Excel files.

  14. “his gift for inexact science”: who was it who was describes as having a gift for inexact precis? Mr Goggle doesn’t want to tell me.

  15. The Meissen Bison

    I think we have to separate the EU and the European Central Bank

    He’s getting a bit of stick on this. It’s like taking candidly from a baby!

    BiCR: yes, precisely right – I remember a while ago sneeking the word omninescience into his oeuvre which encapsulatess his very special quality.

  16. “… A talent for inaccurate précis”, or something very similar, was said of Jeffrey Archer by his wife Mary.

  17. TMB

    +1 for “omninescience”.

    It’s a literary dog whistle.

    Like calling someone a berk.

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