Debt woes ‘worsening for middle Britain’

The debt management woes being faced by families that are thought of as being part of middle Britain have been worsening in recent months, it has been claimed.

A new report from the insurance firm Axa has revealed that there has been a sharp rise in the number of middle class Britons turning to experts for debt advice and help with their finances.

In fact, the company maintains that there has been a 500 per cent increase in the number of middle earners looking for debt help and even people with annual salaries worth £70,000 or more struggling to cope.

Steve Folkard from Axa remarked: “In spite of their higher earning power, middle Britain households are as susceptible to economic pressures as everyone else.”

Last month, the insurance firm suggested that more homeowners are now at risk of repossession than was the case during the last housing crisis in the early 1990s.


Tell others: