Rise in ‘extreme’ debt

Posted in Debt News, on Friday, June 23rd, 2006

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.

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