Debts & Loans

People in Londonderry have a collective debt of £5.5m, according to the Citizens Advice Bureau.

The CAB said the economic downturn had prompted more people to seek help with their debts.

The CAB office in the city is the busiest in Northern Ireland, and is to present a report on increasing debt levels at Stormont on Wednesday.

Rosemary McCormack from the CAB in Derry said high unemployment levels helped push up debt.

"Debt is down to changes in circumstances, as much as careless or reckless behaviour.

"People are relying more on credit because they are on benefit or have lost their jobs and they feel they have no alternative but to turn to credit," she said.