Rising debt levels causing problems in Wokingham
Rising debt levels causing problems in Wokingham
Thursday 22nd January 2009
Data from the Citizens Advice Bureau (CAB) in the Berkshire town shows that since April last year, residents with a collective debt of £8.5 million have asked for assistance with their finances.
According to the Wokingham Times, many people have sought help with debt problems arising from sudden redundancy as unemployment continues to rise across the UK.
With the average amount of individual debt in the area now £21,000, the CAB said that a large number of people are struggling to meet mortgage and rent payments as a result of the economic crisis.
Meanwhile, manager of Hartlepool CAB Joe Michna revealed that the bureau has advised people with debts totalling £2 million in the first three weeks of January alone.
"At the moment it shows no signs of abating. The credit crunch and redundancies are clearly having an impact," she told the Hartlepool Mail.
News article brought to you by Debt1 – UK debt management specialists.
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