Money, Money, Money

Numbers seeking debt advice soar

The number of people seeking advice on how to meet their debts has hit record levels, the Citizens Advice Bureau (CAB) has warned.

The CAB said 1.7 million people sought debt counselling last year, up 20%. CAB is handling 6,600 debt enquiries a day.

Those with problems paying credit card bills and other unsecured loans accounted for 40% of all enquiries.

But CAB reported a "worrying" rise in the number of people struggling to meet day-to-day outgoings like phone bills.

Amazing, the sheer irresponsibility of loan companies who lend money to people on low incomes.

They don't check a person's credit history or their financial details because it would cost money, they just don't care, they have a target 'lend money' and thats that and every time the government talks about oh I don't know setting down rules and regulations, the loans companies say 'oh but it'll effect the economy, stop it growing' and bingo the government will get cold feet and drop the proposal.

Its a vicious cycle