Loan and credit card debt enquiries continue to rise
According to information from the Citizen's Advice Bureau and the Consumer Credit Counselling Service, the number of enquiries relating to debts such as credit cards and loans is still on the rise in the early part of 2007. As consumers in the UK continue to struggle with a range of debts and financial commitments, agencies and groups such as the Citizen's Advice Bureau and the Consumer Credit Counselling Service have seen the number of enquiries that they are receiving from worried consumers getting higher and higher.
Over the past year the Citizen's Advice Bureau has seen a rise of around fifteen percent in the number of enquiries it has received from those worried about their debts and financial commitments. Nationally, around seven and half thousand enquiries were dealt with by the Citizen's Advice Bureau in January, reflecting the seriousness of the problem and the concerns and worries of many of the UK’s debt laden consumers.
The Citizen's Advice Bureau stated: 'Our bureaux are reporting a continuing increase in the number of debt problems people need help with. The combination of people experiencing increases in fuel bills and rising housing costs puts additional pressure on people's finances which were already stretched to the limit.' She also added: 'If people have debt problems they must seek help straight away. We cannot stress enough the importance of telling your creditors as soon as you have difficulties in paying – they should treat you sympathetically.'
In addition to concerns about repayment of loans and credit cards, consumers that contacted debt agencies and groups were also struggling with payments on utilities, council tax, and other household financial commitments. Over half of the enquiries were from single people with just one income, and out of this half were female.
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