Increasing numbers likely to struggle with debt

Wed, 08 Feb 2012

An increasing number of people in the UK are likely to struggle with over the next 12 months, it has been suggested.

Paul Crayston, media officer at the Money Advice Trust - which was formed in 1991 - noted more individuals will find themselves in this year, while research carried out by the company indicated a rise in advice relating to such issues for the months ahead.

The industry figure suggested the typical profile of someone who is experiencing money worries is beginning to change.

While those in arrears have tended to be people who have borrowed money and can no longer meet the credit arrangements for one reason or another, wider economic conditions are starting to alter this.

Mr Crayston stated: "What we're seeing more now is people who haven't necessarily borrowed lots of money or don't have lots of , but maybe their income has remained completely flat."

This is due to a number of reasons - redundancy, reduction of hours at work or simply the rising cost of living, such as that associated with running a car or putting food on the table.
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