Debt advice charity, Consumer Credit Counselling Service (CCCS) has released new analysis, showing the areas of England with the highest bankruptcy levels.
The surprising results show that bankruptcy isn’t confined to urban areas, but also hits rural communities hard, with Cornwall, Northumberland, Devon and Lincolnshire holding the dubious honour of most bankruptcies per 10,000 of population.
Many are financially vulnerable
CCCS external affairs director Delroy Corinaldi comments: ‘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.’
Commenting 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.
‘If you’re struggling with your finances, there are places that can help. Organisations like the CCCS, National Debtline and Citizens Advice all offer free and impartial debt advice. Don’t use a commercial debt management company.’
- How to deal with debt – how to get free, independent advice if you’re struggling with your finances
- Payday loans – designed to trap you in a cycle of debt – have your say with Which? Conversation
- CCCS regional bankruptcy blog – read more about the CCCS’ bankruptcy map analysis