Personal Debt Hotspots in London and N.Ireland

Published on 1 January 1970 by Raffick Marday

London and Northern Ireland are the UK's personal debt hotspots, revealed a leading debt charity.

Debt advice demand, the distribution of insolvency recommendations, and the levels of disposable income were investigated by the Consumer Credit Counselling Service (CCCS).

London was shown to have had the highest levels of demand for debt advice in 2010, while Northern Ireland had the highest levels of bankruptcy and individual voluntary arrangement recommendations.

London also had the highest number of debt relief order recommendations and came in second for bankruptcy. CCCS clients in these two regions on average did not have enough income to cover their expenses.

“Although anyone, whatever their background, age and location, can struggle with debt, there are parts of the country where people debt problems appear to be more intractable,” said Delroy Corinaldi, CCCS External Affairs Director.

“These debt cluster areas such as London and Northern Ireland need special attention in terms of helping prevent people from falling into unmanageable debt.”

24.3 people per 10,000 in London received counselling for their debts last year, the region with the highest figures. However, 23.6 people per 10,000 in Yorkshire also received advice, followed by the North East and West Midlands with 23 people and the North West with 22.9 both per 10,000.

CCCS clients from Northern Ireland had the least disposable income, with a monthly income £55 less than they needed to cover necessary expenses.

Those in London who sought debt advice were shown to be £28 short each month for what they need to live for.

The CCCS also revealed many who have debt problems seek help after dark, with almost 50 thousand people using their counselling service between midnight and seven in the morning last year.

Those struggling to make their income stretch to cover their living expenses, may find a prepaid credit card could help them budget. This card prevents overspending which is easy with a debit or credit card, as the prepaid one does not have an overdraft facility.

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