The number of people going bust in Shropshire has more than tripled over the last decade, shock new figures revealed today.

And the county is now above the regional average for the rate at which bankruptcies are being declared. The figures are a stark indication of just how hard the economic slowdown has gripped the county.

In 2000 the number of people going bankrupt in Shropshire stood at five per 10,000 people each year.

But by 2009 – the latest year for which figures are available – that figure had risen to 17.4 people in every 10,000.

The West Midlands as a whole saw a total of 7,124 people declared bankrupt in 2009 – a rate of 16.8 per 10,000 people.

The figures, obtained from the Insolvency Service, were released by national debt charity the Consumer Credit Counselling Service this morning.

CCCS debt expert Delroy Corinaldi said: “The rise in the rate of bankruptcy in Shropshire over the last ten years is alarming.

“Anyone in Shropshire who is concerned about their debts should seek advice and support from a debt charity such as CCCS or their local Citizens Advice Bureau. The sooner you seek help, the less the likelihood that the outcome will be bankruptcy.”

The cost of living, the charity added, was adding to the pressure on finances.

Nick Rimes, of insolvency practitioners Rimes & Co which has offices in Shrewsbury, said the figure was likely to have levelled out since 2009 after a sharp increase in the immediate aftermath of the credit crunch.

He said: “I would say it has probably plateaued. There was a big increase at the beginning of the recession, but to the man on the street I don’t think the cost of living now is that much greater than it was in 2009.

“I don’t think the number of bankruptcies has risen since then, but I also don’t think it has dropped.”

He added: “In my experience people are spending money on their credit cards more than ever, and don’t have as much to lose in the sense that many people don’t have much equity in their homes.”