1.5 Million People Seek Debt Help

Debt Advice Agencies have seen a rise in calls in the past year, a new survey shows.

Are you one of the 10 million individuals in the UK who finds yourself in a constant struggle to manage your debts?

You're not alone if you sought help by borrowing to finance existing debt... A study by the Money Advice Trust has shown that 1.54 million people did the same in 2011 compared with 1.4 million the previous year.

The research done by the University of Nottingham, for the Money Advice Trust, predicts a sharp increase in the demand for debt advice in the first half of this year. The study suggested this was down to mounting unemployment and flat lining wage growth.

Joanna Elson OBE, chief executive of the Money Advice Trust, put it in plain terms saying that even though 2011 was a tough year "unfortunately more people are likely to struggle in 2012."

She added that, "a greater proportion of household income is needed to heat your home, put food on your table and petrol in your car."

Elson added: "It is so important that people are aware of and can access the free advice" explaining that it could save individuals from a difficult situation then spiraling into unmanageable debt.

Selling treasured items, pets and jewellery isn't uncommon. "Our research shows people are going to extreme lengths to get on top of their finances".

If you wish to discuss matters in further detail please call our debt solicitors on 01772 882888 today, email us at info@ellencourt.com or complete the form on the right and we'll call you back.

Ellen Court Partnership

Preston Debt Recovery Solicitors

Tel: 01772 882888