25 June 2008
Scottish households are in debt to the tune of £7,000 on average, new figures have revealed. Citizens Advice Scotland said that in 2007 its offices dealt with debts reaching £90 million in total and that something needs to be done to ensure that this problem is rectified, reports the Edinburgh Evening News. Kaliani Lyle, Chief Executive of the organisation, said that other forms of debt such as mortgages make the news more often, but the cost of living has just as much of an impact. She stated: "What about the number of people who are thrown into debt simply through trying to buy Christmas presents for their children, or having to pay an electricity bill or repair a cooker?" And poorer people have to contend with interest rates that richer individuals would struggle to cope with, she added, something that may impact on those with personal loans This week, uSwitch.com released hints for people trying to shake off the impact of the credit crunch on their finances.
© 2008 Adfero Ltd
Content for the uSwitch.com market news service is provided by a third party, Adfero Ltd. Whilst uSwitch.com makes reasonable efforts to check the reliability of this content, uSwitch.com does not guarantee the accuracy thereof or endorse the views or opinions given by Adfero Ltd, unless expressly stated otherwise.