The number of people declaring themselves bankrupt in Kent fell by 40 per cent in the second quarter of 2010, compared to the same period last year.

The biggest fall was in Tunbridge Wells, where there was a 55 per cent drop in bankruptcies.

Across Kent, the total number of petitions for bankruptcy was 367.

Second quarter Kent figures for bankruptcy petitions, compared to the same period in 2009:

Canterbury 142 petitions -53 per cent

Maidstone 52 petitions - 13 per cent

Medway 138 petitions - 26 per cent

Tunbridge Wells 35 petitions -55 per cent

But the dramatic drop in personal bankruptcies does not necessarily mean people are getting better at handling their finances.

More are taking a different route to get out of their financial mess, so the drop disguises an underlying trend, according to Chris Nutting of accountants KPMG, which compiled the statistics.

Debt relief orders (DROs) and individual voluntary arrangements (IVAs) - where debtors come to a compromise agreement with their creditors - are on the increase.

Nationally, the number of debtors' petitions combined with DROs and IVAs resulted in a total increase of eight per cent in the number of people seeking an insolvency procedure.

Research by KPMG shows that around the UK, male bankrupts owe about £91,000, while females owe £56,000.

The divergence is even more pronounced in the South East, which has the largest majority of male bankrupts, owing about £100,000, while the remaining 37 per cent are female, owing £73,000

Mr Nutting, KPMG's director of personal insolvency, said: "As someone with 40 years of experience of advising people with heavy personal debt burdens it has always been apparent that more men end up in extreme financial difficulties.

"Without being an expert in the differences in the behavioural patterns of men and women, it is difficult to pinpoint exactly why men are more likely to get into financial distress and to a greater degree.

"The data certainly poses interesting questions; such as are women more financially prudent and does this reflect the higher earning potential of men?"