Rising Numbers are Experiencing Problems with Debt (Tunbridge Wells Liberal Democrats)

Tunbridge Wells Liberal Democrats <info@twlibdems.org.uk>

Rising Numbers are Experiencing Problems with Debt

March 24, 2008 5:53 PM

The number of people seeking advice over rising household bills surged surged in the first two months of this year

The number of people seeking advice because they were struggling with mortgage repayments and other household bills surged in the first two months of this year, and the rising cost of living could force many more people into insolvency, charities warned today.

Citizens Advice said its bureaux in England and Wales had seen a 35% increase in the number of cases involving mortgage arrears, compared with the same period last year.

Lib Dem Shadow Chancellor Vince Cable says "The Government's complacent attitude towards rising personal debt is now coming home to roost. Ministers have completely failed to put in place the preventative measures necessary to stop a housing crash. It is vital that the Government works with the banks to prevent large scale repossessions and builds on the work of the Citizens Advice Bureau by rolling out a national independent financial advice network."