Over 1 in 5 Hull people face serious debt issues

Published: Thursday 10th March 2016 by The News Editor

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Hull people are more likely to be suffering from serious debts than almost anywhere else in the UK, new figures suggest.

Only eight other places have a bigger proportion of problem debts, the Money Advice Service (MAS) finds.

The money-advice organisation finds that over one out of five (21.9%) Hull residents are over-indebted. This compares with the national average of 16.1%

The problem is above average across the whole of Yorkshire and the Humber, with 17.1% experiencing deep financial worries.

The worst likelihood of debt happens in the West Midlands borough of Sandwell, where nearly a quarter of residents (24.7%) have problem debts.

The Welsh areas of Blaenau Gwent and Merthyr Tydfil are also suffering with 24.3% and 24.1% respectively. People are least likely to be over-indebted in the Scottish council area of East Renfrewshire (10%).

MAS debt advice head Caroline Siarkiewicz said: “We know that debt advice works but currently, only one in five people with financial difficulties seek advice.

“Today we are calling on everyone with problem debt or money worries, no matter how large or small, to access free advice as soon as possible.”

Copyright Press Association 2016

Published: Thursday 10th March 2016 by The News Editor

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