As we move into the spring season, the news and public affairs agenda continues to be full, with the submission of R3’s response to the Government’s insolvency regulation consultation, the launch of a new paper to tackle insolvency fee misconceptions and a new guide for people in Scotland worried about their finances just some of the areas the Press, Policy and Public Affairs team has worked on this month.

These, coupled with continued work to give the profession a voice on key issues in the media has meant March was a busy month for the Press, Policy and Public Affair’s team.

Personal insolvency levels in England and Wales fell for the first time in five years in 2020, according to research from the Insolvency Service. In this blog, we provide a breakdown and analysis of the figures – and a look at what’s driving the downward trend…

From welcoming a new CEO to our Value of the Profession report, a round-up of what R3's Press, Policy and Public Affairs team got up to in May...

R3's guide to the new 'Breathing Space' scheme for people in debt, which comes into effect on 4 May 2021... 

The Government's consultation proposing to raise monetary limits on the criteria for obtaining a Debt Relief Order are welcome, but barriers to accessing the debt solution remain. Read a summary of our response to the consultation here...

“Dealing with money worries – a guide to your options” is a new resource from R3, and sets out the statutory amd non-statutory options for dealing with debt, for anyone worried about their financial situation.

The draft legislation for the breathing space scheme has been published - this post sets out how it may look in practice, and R3's support for the measure to help people in debt find an appropriate solution... 

A closer look at the results of R3’s member survey on COVID-19, which found that the majority of respondents expect a spike in personal insolvency numbers towards the end of this year, and the start of 2021...

On May 15^th, for the first time, the Insolvency Service (IS) released monthly figures for corporate and personal insolvencies (NB: corporate: England & Wales, Scotland; personal: England & Wales). The IS said that it was publishing on a monthly (rather than quarterly, as previously) basis “to provide more up to date information on the numbers of companies and individuals who are unable to pay debts and enter a formal insolvency procedure as the coronavirus (COVID 19) pandemic continues”.