Cleardebt

Cleardebt

April 26, 2010 08:00 ET

ClearDebt Campaigns for More Focus on Personal Debt by All Political Parties

- Debt concerns up by 13%

- Indebted Britons owe GBP 22,000, would take minimum of 39 months to repay debts

- Harrogate debtors owe most in Britain (GBP 41,667 in credit cards and loans). Shrewsbury debtors would take longest to repay (85 months).

- Homeowners with debt worries see equity rise (but debtors in NW London have negative equity of-GBP 70,000, after all debts repaid.

MANCHESTER, UNITED KINGDOM--(Marketwire - April 26, 2010) -

A survey by UK leading debt solution company, ClearDebt confirms the number of people in the UK struggling with debt continues to rise.

Using data from just over 16,000 people with debt worries, the research shows that the number of people in debt is increasing, whilst the amount of debt they are in is decreasing.

The research by ClearDebt confirms a 13% increase of people with debt worries between October 2009 and March 2010 in comparison to those with money worries in October 2008 – March 2009. The survey also shows debts owed by these people have declined by nearly £5,000 over the same period. ClearDebt believe that whilst the numbers of people with debt worries is rising, heightened awareness of debt issues means that they are seeking advice earlier in the cycle of debt – which may make it easier for them to resolve the problem.

In 2009 the average British homeowner would have been left owing more than £7,812 if they sold up to repay all their debt, this year they'd have nearly £8,400 left for a deposit on a new home.

CEO of ClearDebt, David Mond explains,

"The number of people asking us for debt help has increased by 13% between the two periods (October 09 – March 10 in comparison to the same period in 2008/09). What we are seeing is more people than ever before seeking help but with lesser debts. For me, Britain's personal debt issues are getting more worrying, not less."

A survey by the Commons public accounts committee shows that 11% of UK voters have serious debt worries. We have pointed out that these funts (financial untouchables – people who are trying to deal with their debt but are still disenfranchised by banks) are being treated unfairly by the financial community: Britain's debt worries could make a big difference to May 6 election result – if they push political parties to change their views on debt.

ClearDebt list the top ten towns for debt are:

1. Harrogate
2. Halifax
3. Guildford
4. Worcester
5. Inverness
6. Tweed (Galashiels)
7. Shrewsbury
8. Chelmsford
9. Medway (Rochester)
10. Torquay

Notes to editors:

To see the latest blog post by ClearDebt – part of the campaign to get FUNTS treated fairly in this year's election, please click here.

For access to more detailed data on the ClearDebt UK Debt Survey, please click here.

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