Unmanageable debt leads to more bankruptcies in Burnley

According to figures released by insolvency practitioners Adcroft Hilton, the number of bankruptcies recorded in Burnley was 32% higher in the second quarter of 2009 than in the same period last year, the Burnley Express reports.

The company`s autumn 2009 report shows an increase in personal bankruptcies in towns and cities across Lancashire, with Burney being hit particularly badly.

Other cities in the North-west have also been feeling the effects of the recession, with Blackburn and Preston both seeing a jump in the number of bankruptcy petitions recorded - suggesting that more people are struggling with unmanageable debt in the region.

A spokesperson for debt management company Gregory Pennington commented: "At a time like now, more and more people are finding it difficult to manage their finances, leading thousands into unmanageable debt.

"Although bankruptcy might not seem like the most appealing option, many people will find it is actually the most appropriate way for them to tackle their debts.

"Even so, by speaking to an experienced debt adviser and addressing their debts when they first become a problem, individuals can reduce the risk of their finances becoming unmanageable in the first place."

---

Gregory Pennington offer debt management plans as well as a range of other debt solutions. If you are worried about debt, contact one of our expert debt advisers now.