Debt help demand 'increases after holidays'

Monday, February 8 2010

People tend to worry more about their debts following a family holiday, according to a spokesperson for the UK Insolvency Helpline.

Ian Boden-Smyth commented that while the first quarter of 2010 is likely to be "pretty busy", the organisation notices that things tend to be quieter over the school holidays and the Easter break.

However, he added that following these holidays, enquiries tend to pick up again.

"If people have debts, they worry about [them] after holidays," he commented.

Mr Boden-Smyth added that there has been "huge demand" for the services provided by the UK Insolvency Helpline during the past five years and the group has had to double its staff numbers to keep up.

Figures published by the National Audit Office on February 4th indicated that some £1,459 billion in outstanding debt was owed by British consumers during November 2009.

This follows research carried out in 2008 by the Bank of England, which indicated that some 11 per cent of people found it difficult to keep up with credit commitments and bills.