Debt Management Cases On The Rise Due To Increased Cost Of Living

The number of people looking for debt help and advice has risen dramatically in the past few months. The majority of cases appear to be blaming the general cost of living - thats the message from Debt Connect, one of the UK’s leading Debt Management companies.

“We’ve seen a sharp increase in the number of cases coming through. A lot of these cite the reason for needing debt help as being the rising costs of general living” says Karan Vij, Chief Finance Officer at Debt Connect.

The Christmas rush is coming to an end and bank balances are starting to take the strain. “It’s typical at this time of year for people to look for help with their debts. But with the additional tests of the current economic climate, more cases than usual are coming through” continued Vij.

Historically, debt management cases commonly come to fruition due to a loss of job, credit card bills or high loan repayments, but it seems that just the cost of living is causing people to look to debt management plans as a way out.

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