THE number of people going bust across Bolton has risen according to official figures analysed by a Lancashire debt expert.
The latest government statistics show that he number of individuals filing for some form of insolvency increased in all three of the town's Parliamentary constituencies in 2018.
Paul Barber, a Lancashire debt expert who is also North West chair of the insolvency trade body R3, says the figures reflect the growing pressures facing people’s personal finances – and the continuing North South divide.
In Bolton North-East the figure rose from 20.5 people per 10,000 population in 2017 to 31.6 in 2018; in Bolton South-East from 22.5 to 29.2 and in Bolton West from 22 to 23.2. The average insolvency rate in England and Wales is 25 per 10,000 population.
Mr Barber said: “Personal insolvency rates have been rising for three years in a row and are now at their highest since 2011. Northern regions continue to be the worst affected. Debt problems can place a severe strain on people’s mental health."
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