A recent report has shown that as the nation continues to battle the recession and the effects of the global credit crunch, the number of people seeking debt advice from industry professionals and groups has been rising.

Reports show that demand for advice relating to problem debts has been on the rise, with an increasing number of people struggling to keep on top of their financial commitments in what has become a very difficult and worrying financial climate.

In fact, figures have shown that in the space of a year demand for debt related advice has increased by more than 40 percent, as more and more people look for help in sorting out their finances and dealing with their financial commitments. Officials from National Debtline recorded the level of enquiries in November and found that calls had increased from around sixteen thousand a month a year earlier to around twenty three thousand in November.

The Consumer Affairs Minister, Gareth Thomas, said that it was vital that anyone struggling with their finances in the current climate contact a debt charity such as this in order to get the situation sorted out before it got out of hand.

He said: “It is imperative that when people are struggling with debt, they seek assistance as soon as possible. There are a wide range of organisations who provide expert advice and can really make a difference when it comes to resolving debt problems.”

There are a number of factors that are affecting consumer finances and have fuelled the increase in calls to debt charities. This includes the lack of available finance for those looking to reduce their borrowing costs and outgoings, as well as fear over jobs, as more and more major employers announce job losses in the thousands.

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