Swansea sees ‘rise in debt problems’
Consumers in one Welsh city are experiencing a rise in debt difficulties, it has been revealed.
Over the past 12 months, the number of debt cases dealt with by financial advisory services and solicitors in Swansea has risen by 34 per cent to 533 as people struggle to make repayments on Personal loans, credit cards and other types of borrowing, reports the South Wales Evening Post.
Paul Davies, director of the Legal Services Commission (LSC) in Wales, told the publication: "The average personal debt of visitors to advice agencies has topped £30,000."
Meanwhile, Swansea has the sixth highest proportion of people looking for debt advice throughout Wales.
As a result, the LSC is encouraging consumers struggling to manage their finances to seek help as soon as possible.
Last month, those in Suffolk were reported to be witnessing a rise in debt management difficulties.
Over the last ten years, the number of house repossessions in the county has doubled as borrowers struggle to make home and Secured loan repayments, reports the Suffolk Evening Star.
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