Plymouth is one of the bankruptcy capitals of the UK – Plymouth Herald

People in Plymouth are among the most likely in the country to become insolvent, new figures have revealed.

A total of 851 people in the city either went bankrupt, took on a debt relief order (DRO) or accepted an individual voluntary arrangement (IVA) to manage their debts in 2017.

That works out as one insolvency for every 248 adults living in Plymouth – the second highest rate in England and Wales combined behind Stoke-on-Trent.

To put that in perspective, the average for England and Wales was one in 469.

In some parts of London and the affluent south – such as Kingston upon Thames – the rate was as low as one in 1,111.

The data was published by The Insolvency Service under Freedom of Information laws.