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National debt management problems 'will not abate'

National debt management problems 'will not abate'

- Friday, 12 June 2009

UK debt management problems are unlikely to significantly ease in the coming months despite signs that the growth of households' financial difficulty is slowing, it has been claimed.

Chris Tapp, director of monetary charity Credit Action, notes that the rate at which national debt management problems are increasing has levelled off in the latest statistics.

But he adds that the UK debt management picture is likely to maintain its current level through until the end of the year.

"I don't think we will see these types of rise in 12 months' time but the figures will remain extremely high during the latter [part of] 2009," he says.

National debt management statistics indicate a 179 per cent rise in the number of enquiries made by households seeking debt advice.

Mr Tapp adds that such a growth rate is "certainly surprising", but supports the prediction that a high rate of enquiries for debt advice will continue throughout the remainder of the year.ADNFCR-2300-ID-19216212-ADNFCR
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