Fareham comes out best with least personal insolvenciesÂ

PEOPLE are least likely to go bust in Fareham compared to neighbouring towns and cities, according to the latest statistics.Â

Tuesday, 24th July 2018, 12:48 pm
Updated Tuesday, 24th July 2018, 12:52 pm

Insolvency trade body R3 found that Fareham's personal insolvency rate is lower than Gosport's and Portsmouth's, based on the annual personal insolvency statistics released by the Insolvency Service.

Sign up to our daily newsletter

The i newsletter cut through the noise

The 2017 statistics 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 11th out of the county's 13 districts for its rate of personal insolvencies (a combination of bankruptcies, individual voluntary arrangements and debt relief orders) and 271st out of 348 local authorities.  This was in the lowest 25 per cent of local authority areas nationally.

Mike Pavitt, 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.'