‘Consumers of all ages’ seeking debt advice

Consumers of all ages are seeking debt advice as personal finance problems worsen for families around the country, it has been suggested.

Richard Bristow, manager of a Citizens Advice branch in Dorset, has claimed that many people have been unable to cope with their debts in recent months as a result of having to secure a mortgage deal in a climate of higher interest rates.

With thousands of fixed-rate mortgage deals coming to an end each month around the country, even a small increase in repayment demands can have a devastating impact on individuals who are already stretched to their financial limits, according to Mr Bristow.

He told the Dorset Echo: “We’re seeing more problems with debt than anything else from people from all ages and backgrounds.

“Repossession has huge knock-on implications for the whole of society.”

The UK’s overall personal debt management burden grew by almost £120 billion over the course of the past 12 months, according to the latest data from the Credit Action charity.

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