Fifteen people faced festive bankruptcy
FIFTEEN people went bankrupt in Leicestershire over the festive period.
That’s according to information from thegazette.co.uk, an official public records journal in which certain statutory notices have to be published.
The figure relates to the number of personal bankruptcy orders involving county residents posted between December 7 and January 7.
The festive period is typically a time of year when people feel under pressure to spend money, with many households leveraging more debt as a result of overspending.
Seven people went bankrupt in Leicester alone, the data shows.
Four went bankrupt in Charnwood, while Oadby and Wigston, North West Leicestershire, Harborough, and Blaby each saw one resident go bankrupt over the festive season.
People are made bankrupt either after they apply because they can’t pay back their debts, or after an application by someone to whom they owe money.
Across England, Wales and Northern Ireland, there were 1,078 personal insolvency bankruptcy notices posted between December 7 and January 7.
The Single Financial Guidance Body is a group which brings together the Money Advice Service, Pension Wise and The Pensions Advisory Service.
They found that visits to the Money Advice Service - a website set up by the government that provides impartial advice on financial decisions - increased by 26 in the first week of January 2019 compared with the same period in 2018 - indicating that the number of people experiencing financial uncertainty over the festive period has risen.
Caroline Siarkiewicz, Director at the Single Financial Guidance Body and debt advice expert, said: “The New Year is a really good time to start planning and getting your finances under control.
“A good starting point is to write down what your income is and list all your expenditure.
“If you find yourself struggling with managing debt after Christmas, an important first step is to seek free advice.
“The Money Advice Service website has a free debt advice locator tool which will help you find your nearest adviser and talk to them in a way that’s best for you – online, over the phone or face-to-face.”