The number of people becoming insolvent has fallen to its lowest level for five years, according to government figures.
In the first quarter of 2013, 25,000 people in England and Wales were granted insolvency, a fall of 12.9% on the same quarter in 2012.
That is the lowest figure reported by the Insolvency Service since the beginning of 2008.
Company liquidations also continued to fall to levels last seen five years ago.
They were down by 15.8% in the first three months of 2013, as compared with the same period in 2012.
Official figures for Scotland suggest conditions there are improving even faster than in the rest of the UK.
Two weeks ago, it was announced that personal insolvencies in Scotland had fallen by 28%, while company insolvencies there are down by 22%.
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