Christian Debt Recovery

Public Debt Uk

December 30th, 2010 |

Author: Gavin

public debt uk

The UK Insolvency Helpline Launches News Blog for Managing Debt and Personal Finances

Debt Advice Blog Launched by UK Insolvency Helpline

National Money Advice Counsellor, Akim Ali, today launched in Central London the UK Insolvency Helpline’s new online information resource, which aims to be the most authoritative source of news and information relating to debt, credit and money advice in the UK.

With current debates focusing on the “credit crunch” and the rise of debt-related problems in the UK, the launch of The UK Insolvency Helpline’s news site for has been welcomed by insolvency experts, the credit industry and the voluntary sector as playing a key role in helping to give a clear picture of issues relating to debt, credit, money advice and debt remedies in the UK.

The new debt advice resource includes information on levels of different types of debt: which approaches to managing debt are most widely used; how people in debt seek advice; the effectiveness of money advice, as well as vulnerability to debt and the advice needs of particular social groups.

Key Debt Advice facts:

* 89% of people said the effects of receiving advice had helped them stop getting into further debt.
* 74 properties will be repossessed today. Estimated to rise to 123 a day during 2008.
* 25,264 insolvencies in England and Wales in Q1 2008. * 165,000 households in the UK are estimated to be using an illegal lender.
* Young people in mortgaged accommodation have average unsecured debt levels of £20,290.
* Comparative levels of debt for the over-50s are now almost four times higher than those of their counterparts in 1995.
* People with mental health problems are three times more likely than other people to be in debt.

Through promoting the benefits of knowledge and information sharing between the credit industry, government departments and the voluntary sector, this new resource should enable such agencies to support vulnerable people in an informed and effective way.

The Future of Debt Advice

The future success of the debt advice blog will depend in large part on the willingness of all stakeholders to share data. Ttere is already so much useful data and research on the hub about debt, credit and advice in all four parts of the UK, thanks to the dedicated staff and volunteers working in the debt advice team.

The UK Insolvency Helpline Debt Advice Process

The UK Insolvency Helplines’s vision is to help to reduce unmanageable debt in the UK and we all believe that this resource will enable us to work with others to achieve this. The information hub will prove invaluable in filling a large gap in the debt advice market and contributing to how the UK public understand and react to debt. As it evolves the news resource will be an excellent example of how sharing data among partnerships and being properly informed on all aspects of money advice can make a real difference.

The news blog will be regularly updated ensure that the resource is for the advice sector, the media, politicians, the credit industry and anyone who needs easy access to the latest debt statistics and research on levels of personal debt in the UK.

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