New research has shown that the number of men seeking debt advice from a debt charity has leaped by more than 50% over the past three years.
The research conducted by the Consumer Credit Counselling Service (CCCS) said that the upwards trend was attributed to higher household costs, rising unemployment and a lack of pay increases.
The CCCS said that although men tend to have lower debts than women, including loans, credit cards and mortgages, they were less likely to be able to keep up with repayments and that many men were now struggling to meet their basic living costs.
Chairman of the CCCS, Malcolm Hurlston, said: “Men have been hard hit by the recession and are emerging as the new underclass.
“Debt alone is no longer the problem. It is loss of income and other rising costs. This deterioration in the economic circumstances for men, still the main breadwinner in most homes, has serious implications for many households.”
The number of men contacting the debt charity leapt up to 221,000 last year, a 51% increase from thr previous year’s levels of 146,000. Men owe
Read more…
debt advice is very important. When struggling with debt you must always get help from an expert.. Some people who are struggling with debt try to ignore their debt problem.Do not hope as some do.
Read more…
The employment of credit card debt consolidation loans have turned out to be a popular way to cope with unsecured debt. As more and more people are talking about debt consolidation advice, we see that loan firms run several advertisements that focus on their ability to reduce monthly obligations. In continuing our discussion regarding debt consolidation advice, we can see that one can find multiple advantages to this variety of debt negotiation to take into account that includes the lowering of payments. If you are looking for a approach to be sure of your debt, this may be the right answer for you. Loan consolidations pull all of your diverse loans together to lower your cost per month. These kinds of arrangements help to lower the total amount that you must pay on a per month schedule.
Consolidated loans make it effortless for you to lower your credit card obligations each month. This makes consolidation perfect for those who are having difficulties to meet the amount for current credit card bills.
Read more…
New figures have shown the number of people seeking advice about home loans has jumped up by 25% in the first half of 2010, according to research by online advice site unbiased.co.uk.
According to the advice website almost 45,000 people searched for professional loans advice by looking for a mortgage broker. The number of people seeking loans advice has soared since 2009, when the figure was just 36,000.
According to the research it was first time buyers who were most in need of advice and the group said that the increase in mortgage enquiries was a good sign that consumers were more confident about the growing mortgage market.
Karen Barrett, the Chief Executive at unbiased.co.uk said: “The mortgage market has undoubtedly had a tough couple of years.”
“Over the last six to twelve months however, there has been more and more good news about the mortgage market.
Read more…
The Consumer Credit Counselling Service (CCCS) has expressed concern after a 22% increase in the number of calls from Scotland to its debt advice hotline.
The increase in calls was met with surprise by the CCCS, whose own research claims that prudent Scots tend to have fewer bankruptcy recommendations than elsewhere in the UK.
Liz McVey, manager of CCCS Scotland, said: “The rise in people from Scotland seeking help with their debts in the past six months is very worrying.”
It’s thought that much of the increase can be attributed to the after-effects of an economic recession which saw two of Scotland’s biggest employers, RBS and HBOS, nationalised, with the latter being taken over by the Lloyds Banking Group.
Fears over public sector cuts may also be behind the increase, with more than 25% of Scotland’s 2.472m strong workforce employed in the public sector.