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Debt problems `being experienced by all ages`
29 July 2009
People of all ages are being affected by debt problems as a result of the ongoing recession.
This is according to Richard Thomas, manager of the Citizens Advice Bureau (CAB) in Llanelli, who said that people in their 70s are still paying off their mortgages, the South Wales Evening Post reports.
He stated: "You can see a year-on-year increase and it will probably continue to get worse.
"We are seeing a broad age range of people with debt problems, from people in their early 20s through to their 70s."
The situation is bad in Llanelli, he added, because there is high unemployment in the town.
CAB figures cited by the South Wales Evening Post suggest the "debt mountain" brought by people in the area over the last year totals around £6 million.
Mr Thomas went on to suggest that the demand for the CAB`s services is rising, with 50 or more people queuing to be seen on Mondays.
Writing on eComparison earlier this month, Martyn Shaw said that some people with debt problems can benefit from Individual Voluntary Arrangements (IVAs) as they allow them to "get back on their feet".
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