1 in 6 people in Britain have debt problems: report

Updated 2017-09-20 10:00:54 Xinhua

Around 8.3 million British adults are living with debt problems, the non-governmental organization (NGO) Money Advice Service announced Tuesday in its 2017 annual report on over-indebtedness.

Sheila Wheeler, the NGO's director of debt said: "This research tells us that one in six people in the UK have financial worries."

The figures equate to 15.9 percent of the population living with a debt problem, slightly up on the 2016 figure of 15.4 percent. The total number of people in debt difficulties has risen by about 100,000 in the past six months, according to the report.

The London borough of Newham and London's Tower Hamlets are Britain's most over-indebted local authority areas, each at 22.7 percent.

Sandwell, near Birmingham at 22.1 percent, was next, followed by Nottingham and the East London area of Barking and Dagenham at 21.8 percent and 21.9 percent respectively.

The top over-indebted regions in Britain are the North East (17.7 percent) and Wales (17.7 percent), followed closely by London (17.2 percent) and the North West (16.9 percent).

Over-indebted individuals are defined in the report as those who are likely to find meeting monthly bills a "heavy burden" or people missing more than three bill payments within a six-month period.

Wheeler added "we gather this insight to understand where the greatest areas of need are to help us ensure we commission debt advice as effectively as possible. To support this, a new strategic approach to debt advice commissioning is underway."

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