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Lower number of cardholders seeking debt help

Lower number of cardholders seeking debt help

Category: Debt

Updated: 02/10/2012
First Published: 02/10/2012

MONEYFACTS ARCHIVE
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Fewer people are seeking help for credit card debt issues, as paying off existing credit takes priority.

According to latest figures from the Consumer Credit Counselling Service (CCCS), 76,368 people contacted the charity during the first half of this year, expressing concerns with their credit card debt.

Whilst this figure is an improvement on 80,971 recorded over the first six months of 2011, the CCCS revealed the level at which credit card debt is considered a major issue has fallen.

In 2009, the tipping point for credit card debt was just over £13,000. Today this has fallen to £10,517, suggesting household budgets are stretched even further as the economic downturn continues.

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