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National Debt Awareness Week 26th January - 30th January 2015

Published: 26 Jan 2015

National_Debt_Awareness_Week_26th_January___30th_January_2015

December is a costly time of year. According to a recent YouGov poll*, Britons spend on average £821 on Christmas. Black Friday and Cyber Monday have further fuelled excessive spending and while food prices continue to rise, many have spiralled in to debt over the festive period. January is when the Christmas debt hangover is felt by millions, so this week StepChange Debt Charity is leading again on National Debt Awareness Week.

Debt services such as Toynbee Hall’s Capitalise project are helping Londoners to deal with debt issues. Capitalise is a pan-London advice service that ensures all Londoners have access to the same high quality level of debt support. We have found that our service users are more likely to be in Council Tax or rent arrears and over half of our service users report multiple forms of debt, however credit card is the most common. Nationwide, 34% (16.9 million people) have had to borrow money to cover the cost of Christmas presents and 20% (10.4 million) borrowed to cover the food costs*.

For anyone who lives, works or studies in the City of London, Toynbee Hall’s partnership with the City of London enables us to provide a free, expert, impartial and confidential debt advice service called City Advice. If you’re struggling with debt this January, City Advice is there to help you take control of your financial problems and get you back on route.

Get in touch with an advisor or visit our debt advice pages for more information.

http://www.toynbeehall.org.uk/debt-advice

Call 020 7392 2953 (Mon-Fri 9am-5pm) or 020 7392 2919 (Mon-Fri 10am-6pm, Sat 11am-1pm)
Text 07432 658083
Drop-in to one of our advice surgeries across the City

*You Gov Christmas Spending Poll – Nov 2014

*Money Advice Trust - Dec 2014

 

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