The latest official insolvency statistics - which showed a significant fall in bankruptcies in the third quarter of 2011 - don't fully reflect the situation many people find themselves in with debt, according to KPMG.
The insolvency expert said that there are still many people struggling with high levels of debt who don't feel able to do anything about it.
And it added that even those who enter into affordable repayment plans with their lenders may eventually find they can't keep up with their payments - meaning they may still have to turn to some kind of insolvency procedure, such as bankruptcy or an IVA (Individual Voluntary Arrangement).
Read the rest of the article at Think Money
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