The number of insolvencies across this group of people increased by 43 basis points to 9.59 per cent of all personal insolvencies during the first quarter of 2011, according to the study from Experian, the credit reference agency.
The analysis unravels the levels of insolvencies across different groups of society, comparing the first quarter to the same period in 2010, and the groups are categorised by characteristics.
The ‘industrial heritage’ group for example includes the traditional, conservative, married couples, who are approaching retirement, who live in communities founded on mills and mines.
Experian’s figures showed that this group recorded the biggest rise in insolvencies, but other married, middle-aged and middle class elements of society are also facing financial hardship.
The data also shows that Windsor experienced the highest rise in personal insolvency levels, with a 50 per cent increase in insolvencies per household. Richmond in London showed the biggest drop in insolvencies, with numbers falling 39 per cent per household.
Simon Waller, head of collections for Experian UK and Ireland, said: “Despite the number of personal insolvencies dropping year on year, there are some noticeable differences across demographics and areas of the country.”
The group that recorded the largest share of UK insolvencies continued to be ‘ex-council community’.
This group is typically represented by people who have created a comfortable lifestyle for themselves, with many living on council estates where many residents have exercised their right to buy.
This group, which makes up 10.6 per cent of the UK adult population, accounted for 14.07 per cent of UK insolvencies in the first quarter of 2011. This was a rise of nine basis points on the same period last year.
The ‘liberal opinions’ group, represented by young professionals with a degree and who live in inner cities, experienced the biggest improvement in insolvency levels.
This category had a 9.59 per cent share of UK insolvencies in the first quarter, an improvement of 74 basis points year on year.
Experian said those within the claimant cultures group, which includes the most disadvantaged people in the UK who are largely welfare dependent, are still the most at risk of becoming insolvent.
This group made up 4.52 per cent of the adult population but 8.39 per cent of the insolvent population.