Worrying increase in debt problems among Exeter residents

There has been a dramatic upsurge in debt worries among people in the Exeter area, according to new figures released by StepChange Debt Charity. In the first six months of this year, 648 residents in the Exeter postcode area sought debt advice from the charity’s helpline compared to 580 in the same period last year, an increase of 12 per cent.

The figures point to a further strain on household budgets, with those contacting the charity from the Exeter area an average of £11 per month worse off than the same time last year. The average person in Exeter seeking the charity’s help was £5 short of covering their essential household bills each month.

In the first six months of this year, the people of Exeter who contacted the charity owed an average of £12,372 in unsecured debt including credit cards, personal loans and overdrafts.

The release of the findings comes as part of the charity’s Need to Sleep campaign, which aims to encourage people to recognise the impact long-term sleeplessness has on their well-being and address the root cause by seeking help with their money problems. A YouGov survey, conducted on behalf of the charity, found that more than 860,000 people in the South West are being kept awake by money worries.

Mike O’Connor, chief executive of StepChange Debt Charity, said: “Many people are plagued with severe financial worries that can have a huge impact on their health, relationships and even their ability to simply get a good night’s sleep.

“All too often, people face their debt burden alone, which can worsen the pressure and anxiety they are feeling. We would encourage anyone who is struggling with debt to take that crucial first step and seek free, confidential advice from StepChange Debt Charity.”

For more information on StepChange Debt Charity’s Need to Sleep campaign visit www.needtosleep.org #needtosleep