CCCS Clients Spend 3 Days A Week Repaying Debts

Thu, 09 Jun 2011

New research has revealed that average debtor in the UK spends the first three days of the week earning enough money just to pay off outstanding debts .

A study conducted by the Consumer Credit Counselling Service (CCCS), the UK's leading debt charity, found that the average person seeking help from their staff has to work until 4pm on Wednesday each week just to earn enough to repay their unsecured borrowings.

The rest of the working week is then used to fund their basic living costs, including mortgage payments.

According to the figures, the average person contacting CCCS in 2010 owed a total of £22,476 on credit cards, personal loans, overdrafts and other types of unsecured debt – and faced a monthly debt repayment bill of £675.52, equal to 58 per cent of the average client's post-tax monthly income.

"With rising prices continuing to push up the cost of living, household budgets are under increasing pressure - and these figures show how difficult it can be to escape from debt once it builds up," said Delroy Corinaldi, external affairs director at the CCCS."

"Our advice to anyone struggling to cope with their repayments is to seek free advice as early as possible."
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