The number of calls relating to debt help from people living outside the UK but who are struggling to repay their UK debts is growing.
The Consumer Credit Counselling Service (CCCS) has reported a rise in the number of people calling its helpline who are struggling to repay their UK debts. Compared to the same period last year, there’s already been a 33% increase in the number of people outside the UK who have contacted the CCCS for debt help.
Laura Carver, CCCS helpline manager says: “The decreasing value of the pound is the main reason that those living abroad are struggling to repay their debts.
We have had people whose income had allowed them to life comfortably abroad, and although that income hasn’t changed, they have been left struggling to make ends meet by the decreasing value of the pound. Many are considering moving back to the UK.”
This comes as Credit Action reports that the total UK personal debt at the end of February 2010 stood at £1,464bn. The twelve-month growth was 0.9%. Individuals owe more than what the whole country produces in a year.
If you are worried whether you can manage your debts, it’s best not to ignore these worries as if you have a debt problem it won’t go away without you taking some action.
If you’re starting to worry about your debt, perhaps having some sleepless nights, it’s certainly time to consider getting some debt help.