Recently published figures from the Department of Business, Innovation and Skills show the need for insolvency advice Manchester’s debt-struck citizens are currently facing.
Since 2009, individual regions within England have tended to see an improvement in their rates of personal insolvency that is broadly in line with that for England and Wales as a whole.
In the East Midlands, the decrease in insolvencies – calculated as the difference between the peak insolvency rate and the average for 2012 as a whole – was the largest at 8.8 per 10,000 adult population.
But in the north-west, the decrease in insolvencies was just 3.8 per 10,000 population – compared with an average decrease of 6.4 across England and Wales as a whole.
The north-west now ranks behind only the north-east (approx. 33 insolvencies per 10,000 people) and the south-west (approx. 29) as the areas with the highest insolvency rates.
In the north-west, roughly 27 per 10,000 people were declared insolvent in 2012 – highlighting the importance of access to the insolvency advice Manchester residents need when they enter into financial difficulties.