Over 50% rise in amount of homeowners seeking help with debt
Published by Kris for 24dash.com in Housing and also in Finance
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There has been a 52% rise in the amount of homeowners seeking help with debt problems over the last five years, new figures have revealed.
According to Debt Advisory Centre (DAC), increased living costs are a major factor behind the sudden rise.
Homeowners accounted for 25% of DAC's clients back in 2008, but today that figure has risen to 38%.
Melanie Taylor of DAC said: "Debt problems are always worrying, but they can be all the more serious for homeowners who fear they may lose their home. However, there is nearly always a way to avoid things getting to that point if you act early.
"We offer a wide range of debt solutions for people in all kinds of circumstances, including Debt Management Plans, Individual Voluntary Arrangements (IVAs), Debt Relief Orders and exclusive Scottish solutions such as the Debt Arrangement Scheme and Trust Deeds.
"Getting help early also means interest and charges have had less time to build up, so it really is worth seeking advice as soon as you realise you have a problem."
To find out more about getting debt help and advice, contact Debt Advisory Centre on 0800 1952714 or visit the website for more information.