The number of people declared insolvent in UK, in 2010 reached a new all-time high of 135,089 cases, official numbers taken from Insolvency Service, and so far predicted to increase through 2011.

The 0.7% rise on 2009′s figure came despite a 13.6% drop year-on-year in individual insolvency during the final three months of the period as the number of people struggling financially continues to improve.

In the second quarter of 2011 the worst-affected sector for insolvency remains real estate sector. Real estate insolvencies reached a 35% of total cases, according to Insolvency Service figures.

Despite the problems, administrations of real estate businesses were still down from a peak of 50% of total insolvencies cases recorded in the final quarter of last year.

Ministry of Justice (MoJ) proposed recently to cut legal aid fees by a further 10% for legal firms and charities. This decision may affect all target industries and a number of them may enter insolvency.

Already two large charity funded immigration services “Immigration Advisory Servic’s” and “Refugee and Migrant Justice” have announced their financial problems, that maywell lead to insolvency.

The 29th of September was another “Quarterly Rent Day”. The rent day identified many retail businesses that had survived the recession, but did not have the funds to meet their rental obligations. Even more, 10% of retails are very close to entering administration in the coming financial year, according to the latest statistics from an industry trade body.

The recent company insolvency statistics has shown that 4,233 companies have chosen to voluntary liquidate their struggling businesses in the period April-June of this year. This is a rise of voluntary liquidation by 2.7% on the previous three months and of 4.4% in compared to the same period of 2010.