That is the bleak forecast from Citizens Advice in the Black Country as new figures show the number of personal insolvencies has gone up across the region.
A person becomes insolvent when they are unable to pay their debts and are left with a choice of declaring bankruptcy or taking on measures to pay them back.
Citizens Advice for Dudley and Wolverhampton said the conversations that advisors had been having with clients had primarily been about cost of living and debts.
She said staff who would previously associate severe financial problems with failed business ventures or large debt accumulated over time, are now increasi…
Read the full article at: https://www.expressandstar.com/news/cost-of-living/2023/04/24/cost-of-living-crisis-likely-to-get-worse-as-struggle-pushes-people-to-the-edge/