The Consumer Credit Counselling Service (CCCS) has said that rising energy prices and council tax bills are playing an increasing role in forcing people into debt, with the average client of the debt charity spending £32 more a month on these expenses than in 2003.
The Royal Bank of Scotland (RBS) is facing an investigation by the banking watchdog over the suicide of a man who ran up credit card debts of £130,000. Richard Cullen, who was 65 and from Wiltshire, owed more than £35,000 on cards operated by RBS including a Mint card and one from Tesco Personal Finance.
New figures from the Bank of England show that the total personal debt of UK citizens is now a record £1.199 trillion, with combined mortgage debt breaking through the trillion pound mark for the first time.
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.
Citizens Advice have called for a new form of insolvency to be made available to people on low incomes, after new figures show many of their clients are facing the prospect of a lifetime of servicing unpayable debt.
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.
A new report by poll firm YouGov claims that the number of UK bankruptcies could be set to explode, with up to a million people ‘quite likely’ or ‘certain’ to declare themselves bankrupt in the near future.
The latest figures from the Dept of Trade and Industry show yet another steep rise in the personal insolvency rate, with the first quarter of 2006 seeing 13% more then the last quarter of 2005, and a huge 73% rise over the same period 12 months ago.