More demand for debt advice

09/03/2010

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More demand for debt advice

More people are seeking out debt advice according to one expert.

Paul A Jones is from Liverpool John Moores University Research Unit for Financial Inclusion.

He says there is a greater than ever need for more 'affordable, accessible and appropriate financial services' to help people with debt problems.

While the senior researcher acknowledged an expansion of debt advice and access to affordable credit, he says the recession and financial crisis means 'people are facing increasing financial difficulty'.

He says: "Access to available credit is ... becoming more difficult - particularly for those on the lowest incomes. We have seen rises in mortgage arrears, rapid expansions in demand for debt advice [and] personal insolvencies are rising." ADNFCR-3106-ID-19658028-ADNFCR

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