Average debt for Redbridge residents above £19k and rising, says charity
A debt charity has said debt levels in Redbridge are rising to an average of more than £19,000.
StepChange, which provides financial advice, said the average debt for people from IG postcodes contacting the charity was £19,039 in the first nine months of 2012.
A year earlier, that amount was £18,198.
By the end of September, 485 people from the postcode area had asked the charity for help, compared to 590 in the whole of 2011.
External affairs director Delroy Corinaldi said: “The rise in average debt levels is concerning, especially when compared with the falling national average.
You may also want to watch:
“Many families are struggling under a burden of debt as household budgets are squeezed by low wage growth and rising living costs.”
StepChange is warning against debt consolidation, which can create difficulties with repayment terms.
- 1 Neighbours slam council over Christchurch Green kiosk approval
- 2 Medics treat six people after three-car crash in Ilford
- 3 Best places to have a curry in Redbridge as chosen by readers
- 4 'Last of a dying breed': Ilford pub scoops readers' vote honour
- 5 Award for officers who tackled knife-wielding man at Ilford station
- 6 Bereaved dad's marathon tribute to son who died of rare brain disorder
- 7 Coffee fanatics to open 'lively' new coffee shop in Redbridge
- 8 Driver dies after Ilford shopfront crash
- 9 Three new items Redbridge residents can recycle
- 10 Man dies after fall near Hainault station
Call the charity on 0800 138 1111 for free advice and help with budgeting and debt management.