North Cornwall's debt levels "soaring"
North Cornwall's debt levels "soaring"
Wednesday 22nd October 2008
North Cornwall's Citizen's Advice Bureau is currently helping a record number of clients whose debts collectively total at £5.5 million, reports the Cornish Guardian.
Liz Evans, manager of the bureau, believes this debt is only the tip of the iceberg because only a small proportion of people needing debt management will have approached them.
"We are seeing mortgage repossessions increasing, also a lot of people with employment problems and others who have complex debt problems," she told the newspaper.
Figures from the bureau reveal a 67 per cent increase in mortgage and secured loan arrears among its clients and an 86 per cent hike in fuel debt levels.
Some 45,000 homes will be repossessed during 2008, the Council of Mortgage Lenders has recently predicted.
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