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Unemployment and lower incomes making debt 'difficult to tackle'
The nation's debt-addled consumers are struggling to pay back the money they have borrowed, partly due to unemployment and lower incomes.
Figures from the Citizen's Advice Bureau published last week (September 4th) show that the number of people seeking debt advice had increased by nearly a third on last year, with the bureau handling nearly six million money or employment related cases every year.
Despite a drop in lending to individuals in July of £600 million, the difficult task of repaying debt remains for thousands of Brits.
Frances Walker, a spokesperson for Consumer Credit Counselling Service, said the organisation had received a record number of calls this year but for many seeking help there appeared to be no immediate solution.
"People's debt problems are more complicated now than they were a few years ago because they often have mortgage arrears and have experienced a drop in income and it can take two or three counselling sessions to find a solution," she said.
A Trade Union Congress report published today (September 8th) shows that those on low wages have been hit the hardest by the recession.