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Thursday 27th of May 2010
February 25, 2010    

Record numbers seek debt advice

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by David Masters
Record numbers seek debt advice

Record numbers of consumers are turning to the Citizens Advice Bureaux for help with financial problems.

The charity said that since the start of the recession it has helped over 3.25 million people with 11 million money problems, including problems with debt, benefits, employment, and housing.

New figures released by the CAB in England and Wales show it is dealing with 9,500 new debt problems and 8,200 new benefits problems every day.

The figures also show that the total debt problem counter between October and December 2009 reached a record 1.7 million, up 20% on the same period in 2008.

David Harker, CAB chief executive, said: “These figures give a stark insight into the human cost of the recession, coming as they do on top of what were already record-breaking enquiry figures for the previous three months.

“We may officially be in recovery, but for many people the damage done by the economic downturn is long-lasting and far from over.

“The demand for CAB services is at an all time high and our advisers have never been so busy.”

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Tags: Citizens Advice Bureaux, , financial problems, , unemployement