Financial woes hit the middle classes

A recent report has indicated that since the onset of the global credit crunch the middle classes have been hit with an issue that has traditionally affected lower class, low income families – lack of money. Reports show that financial problems are now hitting the middle classes, with many people living in affluent areas now contacting debt charities for advice.

Officials state that in some affluent areas the number of people seeking advice regarding their debts and finances had increased by 100%, which was a far larger rise than was seen in lower class areas.

One debt worker recently said: “We’ve seen probably almost a 100% increase in clients. This time last year we were really quite quiet.” She also said: “I’ve had at least two clients sit in front of me and tell me they would have killed themselves if they hadn’t found out we were here.”

Another industry official added: “In the past it was almost uniquely people on benefits, people in social housing who went to debt advice agencies. Since the credit crunch started, they are seeing a big increase in professional people and homeowners coming to seek help, who have just been pushed over the edge and now can’t cope with their outgoings. These services now with the credit crunch are being overwhelmed by a whole new breed of debtor: middle-class people. But what that means is there is much less debt advice to go round.”