Debt management needs increase in Northern Ireland

12/11/2009

Increasing numbers of people in Northern Ireland may be forced to turn to a debt management company.

This comes after the publication of new figures from the Citizens Advice Bureau (CAB), which handled £12 million of debt in the province between April and September, the BBC reports.

It was also revealed that the CAB's money advice service spoke to over 1,000 people during the six-month period, as more people look to solve debt problems.

According to the news provider, CAB spokesman Scott Kennerley said the figures highlight the extent of debt problems in Northern Ireland.

"It is not showing any sign of slowing down as we approach our busiest time of the year after the Christmas period," he commented.

It is believed that the most debts problems in the province arise from mortgage arrears, secured loans, business debts and credit cards.

Last month, the CAB welcomed the government's plan to develop a more responsible framework for credit and store cards, with the organisation having dealt with more than 300,000 enquiries about related debt in the past 12 months.

Tags; Debt Management and Banking,

Regional Debt Advice; Debt Help Northern Ireland, Debt Advice Northern Ireland,

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