MORE people across Yorkshire are declaring bankruptcy as the recession deepens, latest figures have revealed.
And Huddersfield and Dewsbury were among the worst-hit in West Yorkshire, according to figures from the Ministry of Justice.
A total of 64 people in Huddersfield petitioned for bankruptcy during the fourth quarter of 2008 – up by 50% on the same period in 2007.
The figure for Dewsbury was 98 – more than double the tally for the final three months of 2007.
Some 861 people petitioned for bankruptcy in West and North Yorkshire – 50% up on the previous period. They included increases of 78% for Wakefield, 76% for Leeds, 49% for Bradford and 18% for Halifax.
Accountants KPMG said there was a 32% increase in the number of people making themselves bankrupt in England and Wales.
There was also a 12% increase in the use of Individual Voluntary Arrangements – where an individual in financial distress reaches agreement with creditors to restructure their debts.
Paul Bateman, KPMG’s head of personal insolvency in the north, said consumers with a mortgage now made up 51% of those seeking help through an IVA – a dramatic increase from the 30% level seen last year.
He said: “Falling house prices, the general downturn and the associated increases in unemployment are starting to have an impact.Š While consumers will fight to keep their jobs and their family homes, for those who lose both and have substantial debts there is often little reason not to declare themselves bankrupt.”
