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More people 'seeking advice on debt'

A national charity has reported an increase in the number of people seeking advice on debt-related problems.

Citizens Advice stated that the number of people asking for advice on financial issues in January 2007 was 15 per cent higher than a year earlier.

Figures from the charity showed that last month, it dealt with 83,000 new debt problems, which works out to 3,700 new issues each working day.

The organisation said that many of the problems have been related to the rising cost of living, as many are having problems with paying utility bills and council tax arrears.

Teresa Perchard, director of policy for Citizens Advice, commented: "The combination of people experiencing increases in fuel bills and rising housing costs puts additional pressure on people's finances which were already stretched to the limit.“

In addition, many people were also found to have debts relating to credit, store and charge cards.

According to financial education charity Credit Action, the total level of personal debt in the UK now stands at £1.3 billion.

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16/02/2007 16:41:34

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