Following a recent report produced by the Money Advice service, it has been announced that the Citizens advice Bureau is to draft in additional debt advisers after it was revealed that nearly half of all adult residents in the city of Hull are struggling with crippling debt problems.
The report by the government funded MAS (Money advice service) found that a staggering 43% of people living in Hull are over indebted and/or seriously struggling to make payment on essential bills such as utilities and council tax.
An additional £156,000 pounds has now been pledged to tackle the growing problem of personal debt in Hull from MAS and it is hoped that this will go someway to addressing the serious problem before Hull becomes the victim of a financial meltdown.
On average around 340 people per calender month in Hull contact the CAB for assistance with mounting debt problems with no reduction in sight.
Anne-Marie Benson is a specialist case Manager for the charity organisation and said “The report showed Hull was the local authority with the highest number of people struggling to pay their bills anywhere in the country”
Ms Benson advised it is imperative that people struggling in debt contact them to seek quality impartial debt advice free of charge and avoid ‘Debt Management’ companies who only have one agenda.
Hull has seen significant growth in its payday loan industry over the past few years and experts say only be contributing to the current situation.