Callcredit response to CCCS debt report

Responding to the report from the Consumer Credit Counselling Service (CCCS) into debt levels across Britain:

Mel Mitchley, Director of Industry Relations, Callcredit comments “The spiralling cost of living – including a staggering rise in utility bills by as much as a fifth over the past 4 years – appears to be hitting the middle classes hard according to the CCCS report. At Callcredit we saw indications of this back in September 2007, when our own research revealed that 30pc of ABC1 consumers had become more concerned about their financial situation in the immediate aftermath of the Northern Rock crisis.

“Older consumers are the most indebted according to the CCCS report and our own research shows the over 55s to be the age group most concerned about their financial health. Our advice to all consumers who both save and borrow is to assess their financial situation by checking their credit report and not to take on additional credit they can’t afford. If a situation is looking unmanageable and defaults look likely, talk to their lender as soon as possible to avoid penalties and work out a mutually agreeable repayment plan where possible.”

Julia Burchell

GolinHarris
Fox Court

14 Gray’s Inn Road
London
WC1X 8WS
t +44 (0) 207 067 0017
f +44 (0) 870 990 5447
m +44 (0) 7970 720 329

jburchell {at} golinharris(.)com

www.golinharris.co.uk