Nearly £60 million of personal debt reported in one day to debt charity

Nearly £60 million of personal debt reported in one day to debt charity

Over the past few years more and more people have been turning to debt charities and agencies to get advice and assistance due to mounting issues with debt. One of the charities that many people turn to is the Consumer Credit Counselling Service and recently the charity decided to log its debt related calls and the amounts that were involved with the calls, with the result of its experiment coming in as quite concerning.

In total, in the space of just one day, the Consumer Credit Counselling Service took 1485 calls from people who were worried about money and debt, with the amount of debt involved coming to a grand total of £59,566,003. The bulk of the calls were received in the afternoon, as by lunchtime 452 calls had been received concerning debts totalling £18 million.

Of course, the amounts that were involved in each individual call varied radically, with some callers worried about debts amounting to just a few hundred pounds and others calling with debts amounting to hundreds of thousands of pounds or more. However, when taken as a total the amount involved came to £40,000 per caller based on the total number of callers for that day. The CCCS used its Twitter page to provide updates on the numbers of calls and amounts involved as it wanted to raise awareness of ‘the range of scenarios the CCCS helpline deals with on a typical day’.

A CCCS official said: “People get into serious debt for a wide range of reasons, and our #debtday tweets aim to show how varied these reasons are. Around half of our clients fell into difficulty because of some kind of ‘income shock’, such as redundancy or reduced hours at work. Relationship breakdown and short- or long-term illness can also be a big factor, and increasingly we are seeing people contact us because they have been forced to use credit just to make ends meet.”

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