Individual insolvencies are made up of bankruptcy orders and individual voluntary arrangements (IVAs). The various provisions of the Insolvency Act 2000 came into force on two separate dates, namely 1 April 2001 and 1 January 2003. The annual numbers of individual insolvencies in England and Wales can be seen in the following table.
Bankruptcy orders IVAs Total 1994 25,634 5,105 30,739 1995 21,933 4,386 26,319 1996 21,803 4,468 26,271 1997 19,892 4,549 24,441 1998 19,647 4,902 24,549 1999 21,611 7,195 28,806 2000 21,550 7,978 29,528 2001 23,477 6,298 29,775 2002 24,292 6,295 30,587 2003 28,021 7,583 35,604 2004 35,898 10,752 46,650 2005 47,291 20,293 67,584