Wokingham residents worried by credit card debt
Wokingham residents worried by credit card debt
Wednesday 5th November 2008
John Ferguson, manager of the Berkshire town's CAB, said that the growing burden of mortgage payments has seen many residents turn to credit card debt in order to survive in recent months.
He revealed that 1,300 people have visited the branch in the past six months to seek advice on debt, representing an increase of three per cent, the Wokingham Times reports.
Mr Ferguson commented: "Things are getting worse for people from a financial point of view.
"Their payments are going up and they can't afford them or they are surviving by using their credit cards, which then leads to more issues."
Recent statistics from Credit Action indicate that average household debt in the UK now stands at £59,715 including mortgages.
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