This website uses cookies to improve user experience. By using our website you consent to all cookies in accordance with our Cookie Policy. Read more

Citizens Advice: debt enquiries reach record high

11 September 2007
New statistics published by Citizens Advice have revealed that the charity's bureaux received a record number of debt enquiries last year.

Overall, the number of enquiries increased by 20 per cent to 1.7 million in 2006-07, with credit card debt accounting for 40 per cent of all cases brought to the organisation's attention.

The organisation found that problems with overdrafts and unsecured personal loans rose by 18 per cent, while bankruptcy enquiries increased by 50 per cent.

Commenting on the figures, David Harker, chief executive of Citizens Advice, said that while people have taken advantage of the "credit boom", many are becoming overwhelmed by their debts.

"Even more worrying are the signs that people are struggling not only to repay credit, but also to afford day-to-day essentials," he remarked.

Credit Action recently reported that personal debt in the UK reached a total of £1,355 billion at the end of July 2007.

Find out more about credit cards

track© Adfero Ltd