CAB reports debt management 'epidemic'
CAB reports debt management 'epidemic'
- Thursday, 26 March 2009The number of people seeking
debt management advice is at epidemic proportions, according to the Citizens Advice Bureau.
Readers of the Newtownabbey Times are told that the borough's bureau is facing historically high enquiries about
debt management advice at present.
District manager Pat Hutchinson tells the publication: "The debt that people are in - and the amount of debt that they're in - it's frightening."
"Clients are having to wait up to five weeks just to get a debt counselling appointment," she adds.
And, at the Rathcoole Citizens Advice Bureau, 600 people are currently receiving
debt management advice to address more than £6 million of borrowing.
Recent research by Citizens Advice revealed that the average household debt has risen by two-thirds since 2001.
At the equivalent of 18 months' typical income, the average amount owed - £16,971 - would take 93 years to clear by making affordable repayments, the organisation claimed.
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