Fareham comes out best with leastÂ personal insolvenciesÂ
PEOPLE are least likely to go bust in Fareham compared to neighbouring towns and cities, according to the latest statistics.Â
Insolvency trade body R3 found that Fareham's personal insolvency rate is lower than Gosport's and Portsmouth's, basedÂ on the annual personal insolvency statistics released by the Insolvency Service.
The 2017 statisticsÂ show there were 16.3 personal insolvencies per 10,000 adults in Fareham, below the Hampshire rate of 18.7, with Gosport at 25.5 and Portsmouth at 24.6.
The data places Fareham 11thÂ out of the county's 13 districts for its rate of personal insolvenciesÂ (a combination of bankruptcies, individual voluntary arrangements and debt relief orders)Â and 271stÂ out of 348 local authorities.Â Â This was in the lowest 25 per centÂ of local authority areas nationally.
Mike Pavitt,Â chairman of the Southern Committee of R3, said: '˜The latest regional personal insolvency statistics follow a very established pattern: insolvency rates are typically highest on the coast with six of the 10 places with the highest rate of personal insolvency by the sea.'Â