Need for debt help rising, study shows

The last year has brought about a significant increase in the number of consumers seeking help with debt, figures have confirmed.

According to Citi…

The last year has brought about a significant increase in the number of consumers seeking help with debt, figures have confirmed.

According to Citizens Advice, there were 2.4 million enquiries about the issue from April 2009 to March 2010 – up 23 per cent compared to the previous 12-month period.

Chief executive of the charity David Harker highlighted the toll recent economic problems have taken on consumers, with many yet to seek debt help despite their worries.

And he predicted these issues to remain for some time, stating: “The human impact of the recession is far from over for people who have lost their job or their home, or both, in the past two years.”

Fuel debt enquiries were shown to have risen by a third in the last year, with rent arrears to private landlords up 26 per cent.

Peter Law of R3 recently emphasised the potential for personal insolvency to come about as a result of unemployment, following figures showing an increase in the former.

By Andy Mackay

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