Blackpool residents have among the worst levels of personal insolvencies in England and Wales according to a new report from the Office of National Statistics, the ACCA (the Association of Chartered Certified Accountants) has highlighted today.
And the scale of personal financial problems does not stop at insolvencies.
Blackpool also features in the top 10 highest bankruptcies and IVA’s (Individual Voluntary Agreements) per 10,000 adults.
This puts the town in the unenviable position of featuring in the worst 10 list for three out of the four categories measured in the report.
Ann Lucas, an accountant with Blackpool Teaching Hospitals NHS Foundation Trust and chairman of ACCA’s Lancashire and Cumbria network, said: “These figures make for worrying reading.
“We know that across the country insolvencies, bankruptcies and other personal financial indicators rose as the economy crashed but it’s clear that Blackpool residents are struggling more than most.
“I would urge anyone who has concerns about their personal finances to discuss the matter with those you owe money to, it can be a daunting phone call to make but you must do it. Banks and credit card companies will be more receptive to requests for help, the earlier you contact them.”
“Most ACCA accountants and insolvency practitioners deal with personal finances and will be able to provide valuable advice.”