Loss of tax credits and a rise in interest rates will reverse the trend,experts sayJust one person was made bankrupt in the City of London in 2014, compared to 101 in Blackpool, and according to figures from the Insolvency Service which reveal a deep north-south divide in debt problems. The total number of personal bankruptcies in England and Wales peaked during the financial crisis in 2009,but has fallen dramatically and now stands at the lowest level for 15 years.
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Source: theguardian.com