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Debt advice in demand in Northern Ireland

By Matthew Plant

15 February2011

In Northern Ireland, over 1,600 people sought face-to-face debt advice over the 12-month period ending in October 2010.

The BBC reports on figures from Advice NI, the independent advice network, which explains that the 1,640 people had a collective debt of 28.7m - an average of 17,500 each.

Of that total, a full 9m was mortgage debt. Credit card debt came in second, at 6m, leaving over 13m of other kinds of debt.

North Belfast saw the greatest demand for debt advice.

Looking ahead, Bob Stronge, Advice NI`s Chief Executive Officer, warned that things would get worse: "The current economic climate, cuts in welfare and public spending, coupled with anticipated increases in interest rates later this year, is likely to cause financial pressure for greater numbers of people."

A spokesperson at Think Money stressed the need for getting debt advice sooner rather than later: "Facing up to a debt problem can be hard. A lot of people will put it off in the belief that their situation will improve, or because they simply haven`t realised how serious it`s becoming - but talking to an expert can really help borrowers tackle the issues they`re facing before they have a chance to get worse."

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Tags: debt advice, debt, advice, Northern Ireland

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