Post by nickd on Dec 29, 2011 14:37:01 GMT 1
Bankruptcy rates rise in Devon and Cornwall
With only days to go to the new year, more news seems to be coming to the fore over how many people are increasingly struggling with debt. Most people think of Devon & Cornwall as an affluent part of the country, but with high housing, travel and utility costs coupled with low wages it's becoming a area increasingly troubled by more and more personal debt disasters.
Recent statistics show an alarming increase in bankruptcies for Devon & Cornwall compared with other more urban areas of the country. It looks like the new year will see many more people making their county court their first port of call.
It's very dangerous to see statistics like these at a time when specialist advice on debt is seriously under threat of being so dramatically withdrawn. If the legal aid bill passes legislation, this kind of advice will all but disappear as many agencies rely on the funding to provide the help, it's advice which needs to be given by experienced specialists.
"Debt experts issue help warning"
People in Cornwall have the highest rates of bankruptcy in England and Wales, according to the Consumer Credit Counselling Service.
In 2009, 24 people in every 10,000 were filing for bankruptcy in Cornwall compared with 11 in Greater London.
In 2000, eight people in every 10,000 went bankrupt in Cornwall, the report revealed.
Higher levels of debt and a shortage of jobs are believed to be the reasons behind it, a service spokeswoman added.
The report showed that in 2009, in Devon, 23 people in every 10,000 went bankrupt compared with seven in 2000.
Una Farrell from the counselling organisation said: "Compared to other counties, especially in the North, they [people in the South West] are relatively wealthy, so people therefore have more access to credit.
"They also don't have any major urban hubs, so if someone does lose their job it's harder for them to find employment," she added.
www.bbc.co.uk/news/uk-england-cornwall-16353016