Charity unsurprised by upturn in financial concerns

12/06/2009

Britons are reaching "breaking point" with their personal debts, a charity warned today.

Credit Action suggested that the recession and rising job losses were pushing many households to the brink and leading them to seek help from financial advisers.

The comments follow the release of the annual inquiries report from Citizens Advice, a charity which provides free advice for those facing problems with their budgets.

It found that the number of issues raised had risen by nine per cent - but inquiries relating to redundancies had shot up by over 100% and those to do with mortgage payments by 50 per cent.

Chris Tapp, director of Credit Action, said: "I think more people are worried about their finances not because they are a bit more paranoid than they were previously but because unfortunately, more people are in trouble with their finances.

"This is why more people are getting to breaking point where they need to pick up the phone and talk to somebody about it."

Tags; Young Family Finances, Job loss, Recent Graduate Debt,

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