The statistic was revealed as the Wrekin Housing Group said it had helped its tenants clear £3 million of debt in the past five years thanks to the work of its in-house advice team.
Official insolvency statistics released by the government this week showed that across the country last month, the number of bankruptcies was up 25 per cent compared to this time last year, while debt relief orders – a process designed to help people with severe debt problems – also spiked by 23 per cent year-on-year.
Research carried out by the Trade Unions Council (TUC) earlier this year also revealed the UK was experiencing the largest annual rise in household debt since records began in 1987, with the average household expected to rack up an extra £1,600…
