The Consumer Credit Counselling Service (CCCS) has said that debt seems to be a ‘normal part of life’ for high earners, with the number of people earning more than £30,000 a year asking them for debt help rising 257% in the last 3 years.

The average debt held by people the CCCS advised in this earning group was nearly £70,000, with high mortgages and school fees being common reasons for their debts.

Overall, around 5% of people seeking debt advice from the CCCS were earning £30,000 or more, underlining the fact that a high income doesn’t necessarily mean solvency.

A spokesperson for the CCCS added that high mortgages led many people, particularly in London and the south east, to bridge the gap between income and expenses with easily available credit.

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