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Tuesday
Jul062010

Bankruptcy Petitions are Growing in Scunthorpe

It is always sad to see people and businesses failing in times of economic trouble – or at any other time, come to that.  But I was particularly disappointed to see the figures for personal bankruptcies at the Scunthorpe County Court rise by a huge amount recently.

Scunthorpe actually turned out to have the biggest number of bankruptcies in the whole of the UK when compared to the same period of time in 2009.  This is disheartening for those living in the area and it does show that while the recession may be over, people are still going through very hard times.

A spokesman for the Citizen’s Advice Bureau in Scunthorpe stated that the average amount of debt per person who has been to see them is over £18k – and that does not take into account the debts owed on mortgages.  It is also the case that there are many other people with serious arrears who have not yet filed for bankruptcy.  There are other ways of resolving debt problems, and those who do not file for bankruptcy account for two thirds of the people seen by the Citizen’s Advice Bureau in the area.

Bankruptcies in other parts of the country are also on the up, but this is not unusual for the times we are in.  I would encourage those who think they do have a problem to seek proper professional advice before deciding on any course of action.  The main thing is not to avoid the issue otherwise it only gets worse.

If you have tax issues you wish to discuss, or you want to consult us over your current business financial situation, contact us at St Matthew now.

 



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  • Response
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