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Debt Advice Increase for Debt Charity

UK – (News4us.com) January 23, 2012

Debt Advice Increase for Debt Charity

Debt Advice Increase for Debt Charity

Latest figures released by debt advice charity Debt Support Trust showed an increase in people contacting the charity for help in the final quarter of 2011.

The number of people contacting the organisation was up 21% on the previous quarter.

As the number of unemployed people grows in the UK, so does the number of people seeking debt help.

The research from Debt Support Trust highlighted that 37% of people who contacted the debt advice charity had got into difficulty because of employment related issues.

This was a combination of people losing their jobs and a reduction or withdrawal of overtime which made paying bills extremely difficult.

People who are unemployed and struggling to meet their minimum contractual payments to their debts feel scared, alone and worried about the future.

The range of debt solutions available for unemployed people is limited however it’s essential people continue to liaise with their creditors to avoid the situation becoming worse.

The debt help charity also revealed that 14% of people who contacted the organisation for debt advice did so having previously been in contact with a for profit debt solution company.

The key reason given for people contacting the charity was to get a second opinion on the advice supplied by the for profit company.

With unemployment figures forecast to continue to climb until at least 2015 the charity urge people who are finding their household budget coming under increasing pressure to seek debt help from a free and reputable provider.

There are a range of available debt solutions depending on the indebted individual’s personal and financial situation.

These debt solutions include a debt management plan, trust deed, IVA or potentially bankruptcy.

Stuart Carmichael, founder of Debt Support Trust said, “With unemployment figures projected to increase between now and 2015 it is important people do everything they can to reduce or clear loans and credit cards.”

He continued: “With the statistics we have produced there is clear evidence that when people lose their job or have overtime removed, that very quickly they struggle to cope to pay their bills.

There is help at hand and I would urge anyone who is facing difficulties to contact the charity for support and advice.”

Company Infromation

  1. Debt Support Trust is a registered charity providing free to client debt advice throughout the UK via our telephone 0800 085 0226 and internet service. The consumer credit licence number is 0640136.
  2. The statistics used were from Debt Support Trust’s 2011 annual statistics. The survey sample for which was 1,882.

 

 


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