|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |    23rd of February 2018
|   Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  

Debt News feed Debt News

All Financial News feed All Financial News

Enquiries about debt at record high

Bookmark and Share

by Kay Mitchell

Figures published by The Citizens Advice Bureaux (CAB) have shown that enquiries about debt in England and Wales have reached an all-time high.

In the past 12 months, the CAB reported a 20% growth in debt enquiries bringing the total number to 1.7 million – twice the level of that a decade ago. For the CAB this means that consumers’ concerns over debt are prompting 1 in 3 enquiries, with problems with unsecured loans and credit card debt totalling 40% of the CAB’s debt caseload.

The majority approaching the CAB with debt problems are struggling to meet day-to-day living expenses. In the last 12 months, problems relating to electricity and gas bills have increased by over 30%, telephone debt problems have risen by 19% and council tax debt enquiries have risen 25%. Those with mortgage arrears and payments on secured loans increased 11%.

A spokesperson for the CAB said that these figures are worrying evidence and that in spite of many benefiting from the credit boom, an increasing amount continues to pay the price.

Discuss this in the Finance Markets forums

Story link: Enquiries about debt at record high

News posted: September 13, 2007

Financial Services:

Related financial stories to: Enquiries about debt at record high:
Previous: «
Next: »

Visited 2852 times, 1 so far today

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.