CAB: Every working day, 3,700 new debt problems

19 February 2007
Consumers burdened by Christmas debt approached Citizens Advice Bureaux across the country with 15 per cent more debt problems in January 2007 than one year previously, the charity has revealed.

Over 83,000 new debt problems were brought to bureaux in England and Wales in January, equating to 3,700 new debt problems every working day.

The impact of higher living expenses such as fuel bills and high council taxes was in evidence, as an increased proportion of all the concerns presented to advisers focused on these issues.

Meanwhile, problems with overdrafts from banks and building societies increased by 15 per cent.

"If people have debt problems they must seek help straight away," stressed Teresa Perchard, director of policy for Citizens Advice.

But the growing numbers of debtors seen by Citizens' Advice staff could indicate that more Britons are taking her advice and resolving to get to grips with their debt hangover.

At the start of the year, record numbers of Britons were reported to be making better financial management a core New Year's resolution.

Over the financial year 2005-06, Citizens Advice Bureaux dealt with 1.4 million new debt problems.

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