The Citizens Advice charity is set to call for action from businesses and regulators to stop the soaring levels of personal debt management difficulties being faced by consumers across the country.
A conference is being held in London this week by Citizens Advice and the organisation is keen to make clear to lenders that their irresponsible actions can cause serious debt problems for many thousands of Britons.
More than one million people have approached
Citizens Advice about debt during the past 12 months and the charity’s director of public policy Teresa Perchard is expected to tell the conference that the issue of consumer debt is among the most serious facing the country as a whole.
“Time and time again we come across people in desperate straits who need not be there if the firm who lent them money had acted responsibly on day one,” Ms Perchard is expected to say at the conference.
“And while some regulators have taken action on scandals like the mis-selling of payment protection insurance, others seem to be asleep on the job.”
The UK’s overall debt management burden increases by close to £1 million every four minutes, according to figures compiled by the Credit Action charity.