Latest Debt News
Bolton braced for worsening debt
15/12/2005 17:12:00
The number of people seeking the help of the Citizens' Advice Bureau in Bolton over debt problems is reaching record levels.
In the last three months, a bewildering 1,057 people have visited the bureau in Bolton's town centre to discuss their debt, the Bolton Evening News reports.
And what is even more worrying is that the situation can only get worse in the lead-up to, and aftermath of, Christmas.
The Bolton bureau's manager, Rowena Pyott, explained: "Figures for the next quarter will be higher because in the run-up to Christmas people feel pressure to buy the latest presents and toys.
"Christmas is always a difficult time and often relationships break down. But financial problems also arise because people lose jobs and sometimes over-commit themselves."
Of all the debt problems, 350 were related to credit card or store card debts and 159 were from personal loan debts.
Other factors included mortgage and council tax arrears, household bill debts and bankruptcies.
Chris Davies, a Bolton MEP, added: "All too quickly a small debt grows out of control and people don't know where to turn."
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