Relying on your overdraft is a debt problem, claims CCCS
UK consumers who never manage to escape their overdraft should seek debt advice, the Consumer Credit Counselling Service (CCCS) said this week.
It issued the guidance after research by moneysupermarket.com found one in ten British adults live on their overdraft.
CCCS said relying on credit for day-to-day expenses is one of the signs of a debt problem, and those who find themselves in this situation should seek help.
Over 30,000 people called CCCS for help with debt problems related to their overdraft last year, with an average overdraft of £2,125.
“If you find you are routinely living beyond your means when it comes to day to day living expenses, call our helpline for free advice and support,” said Laura Carver, CCCS helpline manager.
“The sooner you call us the more we can do to help you.”
CCCS offers free advice to support people with debt problems and can help people work out benefits they are entitled to but are not claiming.