‘Welsh debt woes worsen’

A report from the South Wales Echo suggests that the average personal debt levels across the province have risen to £30,000 and millions of consumers face years of debt management problems.

In addition, the number of Cardiff residents using legal aid in an effort to win debt-related court cases is on the rise and increasing costs of borrowing are heightening financial pressures for Welsh consumers, the news service reports.

Paul Davies, director of the Legal Services Commission in Wales, is quoted as saying: “More and more people are reporting being three months or more behind with payments on their regular commitments and the average personal debt of visitors to advice agencies has topped £30,000.”

Meanwhile, the overall personal debt level in the UK is rising by around £1 million every four minutes, according to figures from Credit Action.