Consumers 'relying on credit'
Consumers 'relying on credit'
Thursday 15th January 2009
Speaking to the BBC, Rosemary McCormack of the Citizens Advice Bureau (CAB) in Londonderry said that people often feel they have "no alternative" but to turn to credit, particularly when they are unemployed.
Ms McCormack was responding to new data from the CAB which shows that residents of the Northern Irish city have a collective debt of £5.5 million.
"Debt is down to changes in circumstances, as much as careless or reckless behaviour," she told the BBC.
"People are relying more on credit because they are on benefits or have lost their jobs."
The Londonderry CAB is due to present a report on Northern Ireland's rising debt levels at Stormont this week.
According to the latest figures from Credit Action, average household debt in the UK is now £59,670 including mortgages.
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