Published Tuesday, 17 January 2012
The current financial year has seen 1,164 people become bankrupt so far.
Since 2006 the total number of declarations sits at 6,680.
The figures were revealed after Colum Eastwood MLA put an Assembly question to Enterprise Minister Arlene Foster.
Mr Eastwood said it reveals the "fragility" of the local economy.
"These bankruptcy figures bear testament to the general stress in the northern economy and the acute stress suffered by many individuals affected by the implications of the recession," the Foyle SDLP member said.
"Many people see bankruptcy as a safe haven from the pressures of debt, however the lasting restrictions it currently imposes on individuals makes it a bitter pill to swallow."
Mr Eastwood called on the DETI minister to take action.
He continued: "Given these latest figures it is obvious that the spiralling of bankruptcy cases must be tackled head on by DETI.
"Similar to the debate currently underway in Dáil Éireann, it is vital that a review is undertaken into our current system governing the process and declaration of bankruptcy."