ST HELENS has one of the highest rates of personal insolvencies in England and Wales, official figures show.
The Insolvency Service found that 30 per 10,000 adults in the local authority were declared insolvent in 2017.
This 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.
That rate is significantly more than the England and Wales average of 21.4.
The figures are comprised of people who have been declared bankrupt, those who have been given debt relief orders (DROs), which are a form of relief for people on low incomes, and those with individual voluntary arrangements (IVAs), which are a voluntary way of …
Read the full article at: http://www.sthelensstar.co.uk/news/16364394.st-helens-has-one-of-countrys-highest-insolvency-rates/