Almost 1 in 3 Scots Worried About Debt Repayments

Almost one in three Scots are worried about how they will keep pace with their debt repayments as the coronavirus pandemic continues, according to recent research.

Citizens Advice Scotland (CAS) has been polling people across the country and found evidence that a significant proportion of Scots are dealing with at least some level of anxiety about their personal debts.

More generally, roughly two in five Scots were found to be concerned about their income and how they will mange financially in the coming weeks against the backdrop of a coronavirus lockdown. 

Inevitably, many people are concerned most about how they will continue to pay their essential bills, with 24 per cent of Scots apparently worried about their council tax debts and 27 per cent anxious about their utility bills.

Meanwhile, around a quarter of respondents to the CAS’ surveys said they are worried about making their rent or being able to cover their mortgage costs.

CAS has been tracking attitudes to money and personal finances since the start of the virus crisis in March, with anxieties about income levels reportedly having “remained high and relatively static throughout the pandemic”.

The charity has called for the UK government, specifically, to do all that is necessary to support people most in need of financial help while the pandemic continues.

“It’s massively concerning that almost 2 in 5 people are worried about income a during the pandemic, it underlines yet again that this public health crisis is also an economic crisis that is hitting household budgets across the country,” said Myles Fitt from CAS.

“This is not the time for policy makers to be complacent, particularly with energy bills being the next problem as we head into winter,” he added.

Mr Fitt went on to say “it is important for people to talk about any money worries they have, and the CAB network is here to listen and to help”.

If you live in Scotland and you are finding it difficult and stressful to cope with your personal debt issues then Scotland Debt Solutions can help. Contact us directly to arrange a FREE and confidential consultation.