UK Money News
19th May 2008
Middle class debt 'on the rise'
People reporting problems with levels of unmanageable debt are increasing among professionals living in some of the most affluent places in the UK, the BBC reports.
A spokesman for debt advice charity Transact told the BBC that the credit crunch was leaving many people struggling to pay the bills.
Interestingly, Transact branches the traditionally middle class areas of Haywards Heath in Sussex and Congleton in Cheshire both reported 100 per cent rises.
The problem is so acute that Transact co-ordinator Jamie Elliott said that people were currently being turned away from some of the charity's 1,200 advice centres due to the demand.
Mr Elliott said: "In the past it was almost uniquely people on benefits, people in social housing who went to debt advice agencies [seeking advice]. Since the credit crunch started, they are seeing a big increase in professional people and homeowners coming to seek help, who have just been pushed over the edge and now can't cope with their outgoings.
"These services now with the credit crunch are being overwhelmed by a whole new breed of debtor: middle-class people."
back to May's Money News
This article and more Latest Money News can be found on MoneyCrocodile.co.uk
Personal Loans from UKPersonalLoans.com
Personal Secured Loans for Homeowners and Personal Tenant Loans for Non-Homeowners. You can apply online for an Any Purpose Loan or Personal Debt Consolidation Loans or use one of our Loan Calculators.
Debt Advice from ReduceDebt.com
Debt problems? Refused a loan? Got CCJ's or Arrears? Get the best advice and help by enquiring online. Our Debt Professionals will help you whatever debt problems you have. Some of the options available to you are Debt Management, Debt Consolidation, Debt Couselling and IVAs,
UK Personal Finance from MoneyCrocodile.co.uk
UK Online Personal Finance site covering: Loans, Mortgages, Credit Cards, Insurance, Debt Advice, Bankings and Savings, Finance Tools and Money Jargon. We also cover Any Purpose Loans, Secured Loans, Personal Loans, Tenant Loans, Car Loans and Debt Consolidation Loans. If you are looking for Personal Finance let Money Crocodile put a smile on your face.
Car Loans from GBCarLoans.com
Don't just accept the dealers finance - get a quote from us before you buy!. UK Car Loans for New Cars or Used Cars: Supermini, Small, Hatchback, Saloon, Estate, MPV, 4x4, Sports, Luxury, Executive, Cabriolet or Classic Car.
Tenant Loans from TenantLoan.com
If you're looking for a low cost tenant loan, then look no further. We aim to find you a highly competitive interest rate and you can borrow anything from £5,000 and £250,000 with up to 25 years to pay.
