CAB offers tips to tackle debt

Chief among the tips was to not ignore the debt but to prioritise repayments and take advice from professionals rather than taking out another loan to service existing monies.

Teresa Perchard, director of policy for Citizens Advice commented: “We would say to anyone who is in debt – don’t panic, but don’t ignore the problem. Let creditors know that you are having problems – they should be sympathetic and helpful.”

The advice follows a report by the bureau which found that debt clients owe an average of £13,153 – almost a third more than they did three years ago.

With this working out at 17.5 times their total monthly household income, CAB also urged people to try and save and keep track of finances.

In extreme cases, options for bankruptcy and Individual Voluntary Arrangements (IVAs) were also discussed, but experts say these should only be considered after consulting a professional.


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