The figures come 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 1,138 personal insolvencies in Cumbria over 2022, up from 931 in 2021.
However, this was still lower than before the pandemic in 2019, 1,142 insolvencies were registered in the area.
Morgan Wild, head of policy at Citizens Advice, said: The cost-of-living crisis is far from over. Were seeing huge numbers of people under significant financial pressure, with many at risk of spiralling into debt.
However, he wa…
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