10 towns where you\'re most likely to go bust

Torquay has the highest rate of personal insolvencies in the UK, new research has found.

And the problem seems endemic to the seaside, with half of the 10 worst towns for insolvencies located on the coast, according to Experian.

While it stressed the overall number of insolvencies was falling across the UK, the firm noted that certain areas were faring far better than others.

For example, towns in Scotland and the North of England had enjoyed biggest reductions, while those in the South of England had suffered the greatest deteriorations.

Top of that list was Torquay, where an average of 16 out of every 10,000 households became insolvent in the second quarter of 2015.

The situation was only slightly better in Plymouth, Sittingbourne and Scarborough, where 13 of every 10,000 households became insolvent.

While it did not feature in the top 10, Hatfield in Hertfordshire suffered the fastest rise in insolvencies, up from six per 10,000 a year ago to eight per 10,000.

At the other end of the spectrum, Hamilton in South Lanarkshire saw the number of insolvent households plummet the fastest, from 13 per 10,000 to just three per 10,000.

Andy Wills, data director at Experian Consumer Information Services, stressed it was possible to recover from becoming insolvent.

"For people still feeling the strain, higher property prices and living costs can make the road back to recovery difficult," he said.

"Becoming insolvent, however, is not the end of the road. With patience and the right guidance it is possible for people to rebuild a positive credit history."

Towns with the highest insolvency rate:

1. Torquay

2. Plymouth

3. Sittingbourne

4. Scarborough

5. Newport (Isle of Wight)

6. Chester-le-Street

7. Kingston-upon-Hull

8. Stoke on Trent (City Centre Hanley)

9. Bootle

10. Newcastle under Lyme

Top 10 towns/territories with the biggest rise in insolvencies:

1. Hatfield

2. Horsham

3. Brentwood

4. Gravesend

5. Newark on Trent

6. Banbury

7. Bridgend

8. Newbury

9. Windsor

10. Richmond (London)

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