Leading charities have warned that the debt problems facing households in Britain has become
so ‘incredibly stressful’ that people are not even able to sleep. And, the Daily Telegraph reports
that ‘analysts warned the combination of a rise in the cost of living and pay freezes means the
situation will get worse in the months ahead.’
Thousands turn to charities for debt advice at night
According to the Consumer Credit Counselling Service – a leading debt charity – almost 50,000
people turned to them for help during the hours between midnight and 7am. Numbers of callers
between midnight and 1am reached 15,000, while the fewest called between 4am and 5am (around
3,500) according to the charity’s figures.
Paula Searle, head of e-services at CCCS, said: “Dealing with unmanageable debt is incredibly
stressful so it is not surprising that so many are kept awake worrying about their debts.”
Ordinary households increasingly affected by debt and insolvency
The figures from the CCCS follow recent data showing that the biggest rise in insolvencies in Britain
is among middle-class parents. Numbers rose 45 per cent in 2010 compared with the previous year
as the recession hit ‘Middle England’.
Ann Robinson, director of Consumer Policy at a leading website comparison service
said: “Consumers have seen their pay frozen for the last few years while the cost of running a home
and getting to work has soared. This means that we have less pounds in our pockets.
“But with inflation now hitting 4.4 per cent and almost six in ten of the workforce is seeing a pay
freeze, households are facing an uphill struggle that may only get tougher next year. By this time
next year, the squeeze on our spending power could look a lot worse.”
