A report by charity StepChange has shown that, of all the regions surveyed, London has the highest level of debt problems. The report, which analysed 15,000 individuals, found the average level of debt for Londoners to be 3.5 per cent higher than those living outside of London, at ￡12,402. Credit cards, bank loans, overdraft facilities and being in arrears on household bills were all cited as contributory factors in the high level of debt.
The cost of living in London continues to rise and this is clearly having a huge impact on people’s ability to keep on top of their debt. If you are concerned about your finances, our experts at our partner business BM Advisory can help. Whatever your situation, the sooner you contact us the more options you will have available to you. Your initial consultation is free of charge, and you can rest assured that it will be in total confidence.
Personal insolvency can be an overwhelming and stressful experience. Before taking that painful step, expert advice should be sought so that all options can be considered. To find out more or to discuss your specific circumstances, please contact Andy Pear or Mike Solomons.