Need for debt advice 'to rise' in the next 12 months

By Sarah Engle, Tue 7 Feb 2012 - Published in Loans

More and more people will be seeking debt advice over the coming 12 months, according to the Money Advice Trust.

Paul Crayston, media officer at the Money Advice Trust, said that recent research shows that the demand is set to rise for help, as Britons struggle to cope with job losses and rising costs.

Recently, PricewaterhouseCoopers said that the average household is nearly Ł8,000 in debt in the UK.

"What we're seeing more now is people who haven't necessarily borrowed lots of money or don't have lots of credit card debts, but maybe their income has remained completely flat or fallen due to having to reduce hours at work or becoming unemployed," he added.

Mr Crayston went on to say that the price of petrol and food has gone up, and incomes are not quite stretching to cover these outgoings.

He noted that if people need a credit card to pay for food, rent and bills then this is a sign that they need financial advice.

News Categories

News Archive

News: Need for debt advice 'to rise' in the next 12 months