New research from The Insolvency Service reveal that the total insolvency rate in 2015 decreased in all regions across England and Wales – a continuing trend downward since 2009.
The areas that continued to have the highest insolvency rates were the North East of England, while London maintained the lowest rate. The research also showed that nine out of ten local authorities with the lowest insolvency rates were based in the South East and London, whilst six out of ten areas with the highest rates were located in coastal areas.
Female insolvency rates were higher than men’s for a second time. Interestingly, insolvency rates for all age brackets had decreased, however the highest rates were found in the 35-44 age bracket for both sexes.