More people seek advice over debts

Figures that were recently released by a debt charity have indicated that over the past twelve months the demand for debt related advice in the UK has rocketed, with the global credit crunch closely followed by the recession and huge numbers of job losses resulting in an increasing number of people worried about their finances.

The figures comes from National Debtline, which claims that the number of debt related calls it received in November of last year was over 40 percent higher than the same period the previous year, with 23,000 calls received last November compared to 16,000 in November of the previous year.

One official from the charity said that there had been a 30 percent rise in the number of people contacting the agency because they were in arrears with their mortgage or their secured loan. It is thought that the figures could keep rising as job losses and the recession continue to take their toll and wreak havoc in households all across the UK.

The Consumer Affairs Minister, Gareth Thomas, said it was important that those struggling with their debts sought advice from industry professionals, stating: “It is imperative that when people are struggling with debt, they seek assistance as soon as possible. There are a wide range of organisations who provide expert advice and can really make a difference when it comes to resolving debt problems.”