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Women `more likely to seek debt help than men`

By Joel Stanier

21 January2011

Women are more likely to seek help with their debts than men, two debt charities have said, despite the fact that men are more likely to go bankrupt.

One of the charities, the Christians Against Poverty group, said that 63% of their calls about problems with debt came from women.

Christians Against Poverty chief executive Matt Barlow said: "We do not know whether women are more pragmatic, or that men have that determination to sort things out on their own. [.] What is clear is that it is awful to live in debt, to be hounded by creditors and feel that life has spun out of control."

Recent figures from the Insolvency Service show that men have historically been more likely to go bankrupt. In 2008, 37,972 men went bankrupt, compared with 23,173 women.

An expert at financial solutions company Think Money said: "There`s a clear difference between the proportion of men going bankrupt in relation to women, and the numbers who get help before they reach that point.

"Perhaps the fact that more women seek help early on means they are less likely to end up going bankrupt. Getting help early can often make all the difference: there are a number of solutions that can help people in debt avoid bankruptcy, although bankruptcy may still turn out to be the best option in some cases."

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Tags: debt, debt help, women, debt help for women, Christians Against Poverty, Christian debt advice

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