Debts & Loans

IF anyone deserves a change of fortune, it’s us – the ordinary folk.

Sadly, the prospect of better times seems far away as the economic downturn gathers pace.

Increasing numbers of people are falling into debt as they struggle to survive in these difficult times.

A report in today’s Examiner reveals 25 to 30 new debt cases a week are being dealt with here in Huddersfield by South Kirklees Citizens Advice Bureau.

Counselling services have reported seeing a marked increase in the amount of middle class residents seeking help, as they fall into arrears on their mortgages and risk home repossession.

The reasons for this are many and varied: increases in bills, energy prices, fuel prices and the cost of food, along with the ending of fixed-price mortgage deals, have all been given as explanations for why those who normally would not dream of seeking debt advice are now having to do so.

One time of year when people invariably spend more than they can afford is Christmas, when the season is carefree and there is ever-increasing encouragement by traders to get their customers to acquire goods now and pay later.



The plain truth is that more than 4m people are still in debt from last Christmas, most defaulters being in the 30 to 50 age range.

Add to that a warning that the rise in bankruptcies shows no sign of slowing down and the inevitable consequences of uncontrolled spending become ever more apparent.

With companies across the UK struggling or succumbing in the current climate, the number of personal insolvencies looks set to skyrocket in 2009.

The number affected next year is predicted to be 140,000, rising to 160,000.

We hate to be killjoys – but remember the true message of Christmas is that love is not to be measured in pound signs.

It really is the thought that counts.

The alternative is counting the cost of self-inflicted misery.