'Desperate situation' as serious debt worries mount

12/09/2008

Priority debt concerns are on the up, yourcanterbury.co.uk reports.

Simone Field, manager at the Kent Town's Citizen's Advice Bureau (CAB), told the news source that these debt concerns - which are classified as being serious enough for the debtor to be under threat of losing their home - were now so high that the situation is "desperate".

General enquiries about private rent arrears were also found to have swelled by 275 per cent at the branch.

Commenting on the trends, EuroDebt director Kevin Still said: “We are seeing more and more homeowners and tenants facing the threat of repossession or eviction because they have neglected to pay priority creditors like their mortgage provider, residential letting agent, council tax or utilities and allowed arrears to accumulate.

"These creditors often have the power to take the roof from over your head and it is an essential role of a debt advisor to ensure on-going payments and repayment of arrears is prioritised often at the expense of unsecured creditors chasing hard for payments.”

Ms Field added: "Increasingly we are having to say to people that credit card bills and bank loans are going to have to wait while we concentrate on these priority debts."

Tags; Housing Debt and Bills, Young Family Finances, Retirement Money Problems,

Regional Debt Advice; Debt Help Kent, Debt Advice Canterbury,

• Share
• 
• 
• Store
• 
• Follow
•