Self-employed experiencing debt issues?

Self-employed workers in the UK may be experiencing greater debt and financial difficulties, as a charity has witnessed a climb in calls from such people.

The Consumer Credit Counselling Service recorded a 78 per cent increase in those phoning in between December 2009 and January 2010.

Helpline manager with the trust Laura Carver noted that the jump from 415 enquiries from people running their own companies in December to the 739 received in January was indicative of a “growing and serious debt problem” among this demographic.

“We have received thousands of calls from self-employed and sole traders over the past year,” she said, noting that the organisation has “heard a lot of stories” regarding the issues that people are having with debt management.

Those experiencing such trouble may also like to look to consumer watchdog Which? for assistance. The website has just launched a new helpline that provides those in need with comparison tables, an advisory service and further tips regarding money.

By Sarah Adie