Recent increases in interest rates and the cost of Christmas could lead to tens of thousands of people facing bankruptcy over the coming months. Local Conservatives are encouraging concerned residents to seek free debt advice from their local Citizens Advice Bureau.
Erith and Thamesmead Conservative Association spokesman Cllr David Leaf said: “There is no shame in seeking debt advice and help is there for residents who may need it from the Citizens Advice Bureau. Last year CABs dealt with 1.4 million new debt problems, 140,000 of them were in January, and I would encourage local residents who are worried about their finances to make use of their free expert advice.”
“Almost 5,000 County Court Judgements are made annually relating to personal consumer debt in Bexley and Greenwich each year and many residents already feeling heavy financial pressures may be pushed over the edge by the recent increases in interest rates and the costs of Christmas. Last year there were over 100,000 personal insolvencies nationwide and those concerned about the state of their finances should get help as early as possible. Residents can contact and visit local CABs as well as use their excellent website.”
Citizens Advice Bureau Information:
CAB Debt Advice Website: http://www.adviceguide.org.uk/index/life/debt.htm
CAB Website: http://www.citizensadvice.org.uk/
Local CAB Contact Details, including opening times, available at: http://www.citizensadvice.org.uk/index/getadvice.htm
Notes To Editors: There were 1,930 County Court Judgement Statistics for Personal Consumer Debt in Bexley and 2,841 in Greenwich between Jan 2004 and Dec 2004 (from Office of National Statistics).
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