DONEGAL is the second most indebted county in Ireland, with an average debt of €26,311, according to the most recent figures from Stubbs Gazette.
According to the financial publication, the average person’s debt on credit cards, utility bills and other unsecured loans is now five times bigger than it was at the start of the recession in 2008.
There has also been a steep rise in the number of people who have been forced to declare themselves bankrupt after falling into debt.
The figures, from the company behind the debt defaulter’s magazine Stubbs Gazette found the average consumer now owes €13,067 – about 23 per cent more than last year’s average debt of €10,600.
Many counties sank further into debt over the last year – and the average consumer debt recorded in most counties has exploded since the recession started.
Today, the most indebted county in Ireland is Monaghan, with an average debt of €47,166. Donegal is the second most indebted county in Ireland, with an average debt of €26,311.
“The economies of border counties, such as Donegal, Monaghan and Longford have suffered hugely over the last few years,” said James Treacy, ceo of Stubbs Gazette.