Debt grows in 2007, says Citizens Advice

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Debt grows in 2007, says Citizens Advice

Fri 16th Feb 2007

By welcoming in the new year, it seems that more people have heralded the dawn of greater debt problems, new research has shown.

According to national charity Citizens Advice, January 2007 has seen 15 per cent more debt problems than the corresponding period of last year.

The figures relate to the percentage increase in people visiting Citizens Advice regarding financial worries. This equates to 83,000 more debt concerns in the UK during the first month of 2007 than last January.

Teresa Perchard, director of policy for Citizens Advice, said: "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."

In particular, people were reporting problems to Citizens Advice such as council tax debts, telephone bill arrears and water bill payment problems as key issues that were resulting in them falling upon financially hard times.

For the financial year 2005 to 2006, 5.5 new debt problems were encountered by Citizens Advice, the organisation has said and this year that figure is set to increase.

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