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Top ten bankruptcy spots revealed

12/15/2011

The Consumer Credit Counselling Service (CCCS) has released new analysis which reveals the areas of England with the highest bankruptcy levels.

Surprisingly, the results reveal that bankruptcy is not confined to the cities and urban areas, but is also prevalent in more rural areas. In fact, Cornwall, Northumberland, Devon and Lincolnshire hold the number one spots for mort bankruptcies per 10,000 of the population.

Also in the top ten were Durham, Essex, Dorset, Somerset, Tyne & Wear, Worcestershire. The number of bankruptcies per 10,000 ranged from 20.7 people in Essex to a peak of 24 people in Cornwall & Isles of Scilly.

CCCS external affairs director Delroy Corinaldi commented on the statistics: “This is likely to result from a mix of factors such as high debt levels and less job opportunities than you would find in large urban areas.”

Also remarking on the bankruptcy statistics, Which? debt expert Martyn Saville said: “Many people will be shocked by this list of areas with the highest proportion of debtors going bankrupt. Far from being restricted to traditional areas of high unemployment, such as former industrial heartlands, these statistics from CCCS show that unmanageable debt is a problem that affects the whole country.”

Categories; Current UK Economy, Debt Management and Banking, Income Worries and Debt,