Q2 insolvency data - comment from Melanie Giles, a licensed insolvency practitioner at PJG Recovery
"On the surface the drop in individual insolvencies during the second quarter is good news but it does not accurately portray what's happening on the ground
"This data is a small snapshot only and does not capture the huge, and almost certainly growing, number of unregulated debt management plans out there.
"The reality is that many households, as highlighted this week by the Money Advice Service, are still struggling to cope. More than half of people surveyed said they were struggling.
"Consumer confidence returning is a good thing but it will result in people taking on more credit, which, given how indebted many households still are, could prove ugly.
"Unfortunately, many households don't know how much in debt they are until something extreme happens, like someone losing a job.
"The perhaps surprising fall of 10.4% in DROs shows that people are waiting longer than ever before they make a decision."
"It's well documented that there are countless zombie companies in the economy.
"Both the banks and private creditors are still nervous about pulling the plug and are concerned that calling in their debts will see them lose everything. As a result, they leave companies to continue to operate.
"The resurgence of the economy is also making creditors more likely to wait, as they hope the companies they are owed money by somehow rebound. But in many cases this is overly optimistic.
"Paradoxically, perhaps, we will know the economy is properly strengthening when the number of company liquidations rises consistently."