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22Michelle Hmm, looks like I was wrong about total bankruptcies:
In the 12 months ending 30 April 2025, one in 417 adults in England and Wales entered insolvency (at a rate of 24.0 per 10,000 adults). This is higher than the rate of 21.6 per 10,000 adults (one in 463) who entered insolvency in the 12 months ending 30 April 2024.
https://www.gov.uk/government/statistics/individual-insolvencies-april-2025/commentary-individual-insolvency-statistics-april-2025#main-messages-for-england-and-wales
It looks as though the US currently has a lower total rate of bankruptcy than the UK
https://www.debt.org/bankruptcy/statistics/
The numbers are so surprising, to me at least, that I suspect that the definitions, statistical methods, and reporting practices differ between the two countries. And I have no idea what the numbers look like for other countries.
So, what have I missed or misunderstood?
