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Debt advisers busy as debt & unemployment rise
8 June 2009
Debt advisers are being called on to help high numbers of people as debt levels and unemployment figures continue to rise, according to The Birmingham Post.
The latest figures from the Bank of England show that current net lending to individuals stood at £1,459.2 billion in April, with £1,227.3 billion (around 84%) of that in the form of secured debt (such as mortgages) and £231.9 billion (around 16%) in the form of unsecured consumer credit (for example, credit cards and overdrafts).
Despite some apparently positive signs, `debt advisers are being increasingly swamped with requests from people seeking help in managing their debt, largely due to the rising tide of unemployment`, birminghampost.net states.
A spokesperson for debt management company Gregory Pennington said: "Many people are going into debt in order to afford everyday costs.
"Anyone who is struggling and wants to know what debt help is available should contact a professional debt adviser."
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