Debt calls rise 27% from prior year
More citizens calling asking for financial advice, complaints
By UK CreditCards.com
Debt inquiries relating to credit cards and loans are on the increase in the UK, new figures from Citizens Advice indicate.
The nonprofit revealed that just over 560,000 issues relating to financial problems had been raised by members of the public in England and Wales between April and June 2009. This is a rise of 27% from the total measured over the same period last year.
Recession conditions in the economy have led to unemployment hitting a decade-long high in the UK, restricting the ability of some credit card customers to meet their payments.
Loans are also under pressure, with figures from the Council of Mortgage Lenders predicting repossession numbers to rise from 40,000 in 2008 to 65,000 in 2009.
Commenting on the new data, which was released to mark the 70th anniversary of the service, Citizens Advice chief executive David Harker said: "From rationing to recession, [we have] been there for people in times of crisis. As we celebrate our 70th birthday, our new figures show that what started out as an emergency service in wartime is now needed more than ever."
Citizens Advice also said that redundancy-related enquiries were up by 74% year on year, while jobseekers' allowance enquiries had risen by 99%.
Published: 9 September 2009
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