Archives for 15 May 2007
CAB: Average debt is £50,000
The Guernsey Citizens Advice Bureau has confirmed that the overall debt levels of people contacting them have increased significantly over the past year.
Kate Raleigh, manager of the branch, confirmed that the average amount of debt held by those seeking help from the charity now stands at £50,000 and many are increasingly worried how they […]
Rising insolvency rates are “unsurprising”
Rising figures for insolvency in England and Wales are “unsurprising”, according to one debt expert.
Latest official figures suggest that the number of bankruptcies and individual voluntary arrangements taken out increased last year as people struggled to take hold of their debts.
Paul Bateman, a spokesperson for financial services firm KPMG, said that the average bankrupt […]