19 May 2008
Richer people are getting into financial difficulty as a result of taking on cheap credit, Transact has said.
Those in more prosperous locations are starting see that it is hard to pay back money on items such as credit cards, Transact revealed.
Member of Transact, Community Money Advice (CMA), stated that the percentage of people asking for assistance with debts in places such as Tunbridge Wells rose in the year until the end of 2007.
Director of CMA Heather Keats claimed that rising prices in a number of sectors such as food and drink have even stretched consumers with more money.
"We are seeing a new type of client. Teachers, police and banking and service sector workers, many of them homeowners, are struggling with mortgages, secured loans and credit card debts," she commented.
Last week, Muslims in the Birmingham area met to talk about their debt problems at an event put on by Islamic Relief.