BANKRUPCIES HIT RECORD LEVELS ACROSS GREATER MANCHESTER
November 2, 2009 11:06 AM
The number of people declared bankrupt across Greater Manchester has hit record levels according to new figures obtained by Hazel Grove MP Andrew Stunell.
The figures, released to Mr Stunell in response to a Parliamentary Question, show that 2,960 people were declared bankrupt in 2008, the latest year for which figures were available. This is almost four times the number of people declared bankrupt in 2000 (767).
In Andrew's own area of Stockport, the numbers have shot up from just 83 people in 2000 to 286 in 2008.
Now Mr Stunell is calling for action to ensure that bankruptcy is used only as a last resort.
Commenting, Andrew Stunell said:
"These figures are clear evidence of the toll the recession is taking on local people, many of whom are finding it impossible to keep up with repayments on their growing debts.
"Taken with the dreadful news about the state of the economy, it is a clear warning of the risks of mass bankruptcy and home repossessions across the country.
"The government needs to do more to help those who are struggling to keep their heads above water. We need to cut income tax for hard-working people, and the banks have to pass on the interest rate cut to their customers.
"Bankruptcy has to be the last resort rather than the default option."
ENDS
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