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Areas of England`s south-west region are among the UK`s worst blackspots for bankruptcies and severe debt problems, according to a new study.
Plymouth is the city worst hit by financial troubles, topping a list of major towns and cities across England and Wales for the number of insolvencies filed.
Research by the University of Plymouth found that in 2006, 819 people filed for insolvency in the city - a total of 0.43 per cent of its population.
Nearby Torbay came second in the poll, with 0.42 per cent of its population filing for insolvency, the BBC reports.
Professor Peter Gripaios, from the university, said: "High house prices can lead to indebtedness. It`s very costly to get on the housing ladder, it`s also very costly to pay rent."
According to the Insolvency Service, 106,645 people applied for bankruptcy or entered an Individual Voluntary Arrangement during 2007.
