Nearly nine million people across the UK are living with serious debt problems, according to a new report. The Money Advice Service (MAS) also said very few people were making any attempt to get professional help. The problem is particularly acute in five English cities, (Manchester, Hull, Nottingham, Knowsley and Liverpool), where more than 40% of the population is struggling to pay their debts. According to the survey, 18% of Britons, 8.8 million people, consider they have ‘serious’ financial issues. MAS, which is backed with public money, said that for the first time, the survey had provided a detailed understanding of the lives of those who are in debt. The report found that 74% of those struggling with debt were ‘unhappy’. There is particular concern that very few people ask for help. ‘millions of people could escape their spiral of debt by accessing free advice,’ said Caroline Rookes, the chief executive of MAS.
Pray: for the many thousands trapped in debt and that ways will be found to offer advice. (Ro.13:8)