Scottish debt crisis to be talk of town
‘MORE than 400 delegates will be discussing ways of tackling Scotland’s spiralling personal debt crisis at a major conference in Edinburgh.
The Citizen’s Advice Bureau Scotland is staging its annual conference at the Edinburgh International Conference Centre today and tomorrow.
It comes as the organisation revealed it dealt with inquiries relating to £151 million worth of personal debt in the last year.
Speaking ahead of the event, CAB Scotland chief executive Kaliani Lyle, said: “Our conference seeks to look at change from a variety of viewpoints.’
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August 25th, 2005 at 6:43 pm
Scots are facing a debt crisis, after debt levels in the country soared over the past two years.
The average Scot seeking advice on debt now owes an average of more than £13,000, according to a survey - a rise of 64 per cent from 2001.
Data from the Citizens Advice Scotland (CAS) shows that consumer debt is getting even worse in lower income groups.
Over the past two years the service said that the ratio of debt to income among clients rose by 78 per cent.
The report, On the Cards, claims that consumer debt is now the single biggest issue that people in Scotland bring to each of its 70 bureaux.
Last year CAS advisers dealt with new debt alone totalling £123 million.
More than 20 per cent of those surveyed for the report had debts of more than £20,000, while more than a quarter had debts of between £10,000 and £20,000.
Of those surveyed, 54 per cent had an income of less than £800 a month, while 24 per cent got by on less than £400 a month.
More than half of the group had no income other than pensions or benefits, but more than a quarter of them had at least one credit card or store card, an overdraft or council tax debt. address book
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