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17
DEC
2013

More UK Citizens in Debt Seeking Help

The UK is still suffering from a particularly nasty recession and the debt figures are definitely on the rise. Whilst there have been a number of changes on the government’s attitude towards people in debt, there remains a pretty large percentage of debtors who have not seen the need to ask for any assistance. This is a scary fact that can only lead to even more debt and stress for those who are trapped in this downwards spiral.

The Figures

Today, almost 9 million people in the UK are considered to be ‘over-indebted’, this is an expression that means they are at least 3 months behind with their bill payments. Of that large figure, only 17% of them have felt comfortable enough to seek help from the appropriate authorities. There are a number of firms who have worked within government guidelines to find legal solutions to help individuals and families in serious debt. But why is it that nearly 8 million of these people have not yet asked for their help?

Why So Low?

Nearly 21% of the people included in this figure did not even think that their particular financial status was anything to worry about. 11% accepted that they were in serious debt but apparently were not bothered about this situation. 12% recognise that they had probably fallen further into debt than they had realised at first and they were considering asking for some help.

Demographic Differences

Amongst the hardest hit areas in the UK are Liverpool, Manchester, Nottingham and Hull – essentially the Midlands and the North of England. Meanwhile, the South East, represented by Richmond-upon-Thames, has only 1.2% of its residents in serious debts. It does appear that the North/South divide is alive and rather unhealthy debt-wise.

Student Debt

An interesting aspect of the portion of the UK residents who are in debt but are not concerned, happens to be the young students hard at study in colleges and universities. They make up 11.3% of the overall figure of the debt-ridden populace, and they seem to believe that once they’re in work, they can simply eradicate that debt unassisted. If only life happened to be so simple, then we would all be debt-free.

Young Workers Ready to Listen

The good news is that amongst the younger workforce currently in debt, 30% of them are either already receiving help or are seriously thinking about making that next step. Let’s face it; getting a call in your workplace from an irate creditor will do nothing to assist your promotional prospects in the future.

Here at Dissolve Debt, we believe that no matter how bad you believe your debt situation to be, we can help you. The worse thing that you can do about your debt is nothing, sticking your head in the sand will only make it worse. By speaking to one of our dedicated advisors, you will be making that first move towards a debt-free future. We will look into your individual circumstances and help you to choose the best plan to fit your lifestyle. Please have a look at our website for some examples of how Dissolve Debt can help you today.

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