Proof The Bible Is True

“Governments and many of the general public are drowning in debt. How much longer can this growing debt bubble be sustained, who knows. But when the collapse comes it will be colossal.”  Admin

Britons are struggling with debt in unprecedented numbers, according to a report published this week.

More than half a million people – 577,677 – have sought help in the past year alone, their individual debts averaging £14,650, the report by debt charity StepChange says. It also warns that the number of people needing help to manage their debts has risen by 56 per cent since 2012.

People seeking debt advice are as likely to be in full-time work as unemployed. But those on benefits are fighting a losing battle to stay out of debt, with people on Jobseeker’s particularly hit.

Increasing numbers of people are struggling just to pay basic bills. There is a “growing crisis” facing people trying to cover essentials, warns the report. In 2010, gas and electricity arrears were 3.8 per cent of the average unsecured consumer credit debt; by 2014 it was 7.8 per cent. Numbers of people in council tax arrears are also spiralling: the percentage of people falling behind with payments has risen from around one in five to almost a third in just two years. High interest rates mean that small debts can swiftly spiral out of control, and more than half of those in debt have suffered stress-related health problems, according to the report.

Read More  Debt in Britain: Numbers seeking help on how to cope with mounting bills goes up by more than half in three years – Loans & Credit – Money – The Independent.