A once in a generation cost of living increase is set to drive demand for insolvency solutions

By Matt Wallis, Head of Solution Design

We’ve all been hearing about the rising cost of living recently. This once in a generation increase looks set to impact everyone in the UK, particularly following the post-Covid and post-Brexit effects on everyday finance. Right now, the conflict in Ukraine is predicted to make things even tougher. In the insolvency market Creditors and Insolvency Practitioners (IPs) are already beginning to see the economic effect on customer affordability.

So, as this situation is likely to impact the insolvency sector for months if not years ahead, we wanted to  highlight the facts behind what is incontrovertibly true; we are facing the impact of a cost of living increase not seen for a generation.

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