Stoke-on-Trent has been identified as the debt capital of England and Wales, according to new official figures.
The Midlands city had the highest rate of personal insolvencies in 2017, followed by Plymouth, Hull and Scarborough.
The former industrial centre famous for its potteries and pinpointed as a Brexit heartland, recorded an insolvency rate of 44.8 per 10,000 adults more than double the national average.
Bankruptcy
A form of debt relief available for anyone who is unable to pay their debts. Assets owned will transfer to a trustee in bankruptcy who will realise them and distribute the proceeds to creditors. Discharge from debts usually takes place 12 months after the bankruptcy order is granted. A trustee may be a lic…
Read the full article at: https://www.theguardian.com/money/2018/jul/13/stoke-is-debt-capital-of-england-and-wales-followed-by-plymouth
