Debt charity the Consumer Credit Counselling Service (CCCS) has revealed a huge divide between the north and south of England when it comes to debt repayments.
According to a recent report from the charity, the number of individuals who have contacted them for help has more than doubled between 2005 and 2010, with the north of England, Wales and Scotland seeing the most considerable increases.
CCCS chairman, Lord Stevenson has said that households are struggling up and down the UK, but it is the northern regions that are struggling the most.
Individuals who are having difficulty controlling their finances should not delay in getting help. The earlier action is taken to in terms of talking through options with creditors and consolidating debts the better.
CSSS advise individuals who are worrying about debts not to bury their head in the sand.
If you have credit card bills to pay off then you may be able to negotiate a freeze on the interest and reduced monthly repayments so you have more of a chance to catch up. Mortgage lenders will also have various options available which could help you to get on top of debts. For example, you may be able to spread your mortgage over a longer term or reduce your monthly payments.
Financial problems can often lead onto psychological issues such as stress, anxiety and depression. If you feel that your money worries are beginning to effect you on an emotional level, visit our debt page to find out how counselling may be able to help you.
For additional practical advice about debt, visit the Step Change website.
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