Rise in ‘extreme’ debt
The Consumer Credit Counselling Service (CCCS) have warned that the number of people in extreme debt is rising fast, with numbers nearly doubling in a single year.
The charity defines extreme debt as owing more than £100,000 and the proportion of people seeking help who are in this situation has risen from 1.4% to 2.7%.
The charity has 280,000 UK clients, and overall the average debt of people entering into a management program with them is nearly £31k, with people aged between 40 and 59 having the highest average debt of nearly £34.5k.
