The data comes to light as Citizens Advice warns people are at risk of “spiralling into debt” amid the cost of living crisis.
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.
New figures from the Insolvency Service show there were 609 personal insolvencies in Telford and Wrekin over 2022, up from 540 in 2021.
This was also more than before the pandemic in 2019, 503 insolvencies were registered in the area.
In the Shropshire Council area there were 520 insolvencies last year, down by one from 521 in 2021.
The nu…
Read the full article at: https://www.shropshirestar.com/news/local-hubs/shrewsbury/2023/04/08/figures-reveal-scale-of-county-insolvencies/