£2m cost of consumer debt in Carlisle

Debts accrued through the festive financial binge are expected to range from £5,000 to £30,000, with 300 people forecast to visit the local Citizens Advice Bureau (CAB) by March.

Employees at the CAB state that annual debt in the city has been rising steadily, with people in Carlisle expected to have £8 million in debts by the end of 2007.

Lesley-Ann Walsh, debt advisor at the Carlisle CAB, told the Carlisle News & Star: “Over the past few years debt has become one of the largest areas of advice that we deal with.”

“Expenditure over Christmas and the fact that bills fall on the mat just after Christmas mean that it is one of the busiest times,” she added.

Ms Walsh continues that people ought to get advice as soon as they feel they are in trouble.

Meanwhile, recent reports from Grant Thornton suggest that there has been “phenomenal” growth in the number of IVAs in the UK as people seek methods of tackling overwhelming repayments.