Latest Debt News
Debt in Edinburgh deepens
30/12/2005 13:26:00
Excessive Christmas spending and a cold winter ahead are likely to raise personal debt levels in Edinburgh by a third.
The amount of debt that residents of the city have accumulated stands at a massive £25 million on personal loans, credit cards and store cards, the Scotsman reports.
Citizens' Advice Scotland (CAS) spokesman Ian Brown commented: "With consumer debt now the single biggest issue that Citizens Advice Bureaux deal with, the CAB service is urging people not to overstretch themselves financially.
"Last year, bureaux in Scotland handled client debt totalling £151m."
Meanwhile, Edinburgh's Debt Advice Partnership estimates that, of the 140 people a month who required debt help last year, the average debt encountered was £14,610.
And with more cold weather still to come, Mr Brown anticipates that the debt situation could get even worse.
"Hefty winter bills, like gas and electricity, often arrive in January and February, just when you're feeling the pinch most. We could be in for an especially cold winter this year, so bills could be even higher," he said.
© Adfero Ltd