The rate of personal insolvencies in Lewes has increased by almost 40 per cent over the last two years, official data has revealed.
In 2015, 13.5 adults per 10,000 were declared insolvent in Lewes, according to Insolvency Service figures.
However by 2017 that figure had risen to 18.8, an increase of 39.8 per cent.
Insolvency is when someone cannot pay their debts, and has to arrange a plan with an official body to pay off creditors. This can include being declared bankrupt.
The England and Wales average is 21.4, with Stoke, in Staffordshire, having the highest insolvency rate of 45 people per 10,000 in serious debt.
The figures are comprised of people who have been declared bankrupt, those who have been given deb…
Read the full article at: https://www.sussexexpress.co.uk/news/business/personal-insolvency-rate-in-lewes-has-increased-by-almost-40-per-cent-since-2015-figures-show-1-8571905