Regional statistics show need for personal insolvency advice in Manchester

Published on July 28, 2015 by Crawfords Accounting

The recently published Insolvency Service statistics show the importance of the personal insolvency advice Manchester residents receive, as the region ranks joint-second in terms of the proportion of the population who go bankrupt.

Last week we looked at the gender divide, as the statistics also reveal women are now more likely than men to be declared insolvent.

But on a regional basis, the report doesn’t make positive reading for either gender in the north-west.

In 2014, the north-east had the highest proportional rate of bankruptcy, with six people per 10,000 adults going bankrupt.

The north-west ranked joint-second with the south-west, as both scored a bankruptcy rate of 5.2 per 10,000 – some 0.7 higher than the nationwide average.

However, there is one indication that the insolvency advice Manchester residents receive may have helped the city to perform better in avoiding bankruptcy than its great rival, Liverpool.

That is because Merseyside was singled out for mention by the Insolvency Service as one of the areas with the highest overall insolvency rate – which may have skewed the results for the north-west as a whole.

  • LinkedIn
  • Instagram