Scots with Worsening Debt Problems Not Getting Help

A majority of Scottish consumers who have fallen behind on their debt repayments recently are yet to reach out for third party help in dealing with the associated issues.

A new poll conducted by Survation suggests that 17 per cent of indebted Scots have recently missed repayments they should have been making and 63 per cent of those people have yet to seek expert advice or support.

The relevant research was conducted on behalf of Advice Direct Scotland, which is urging people across the country to be aware they do not need to suffer in silence if they’re finding it tough to cope with their debt situation.

Among the most common forms of debt causing problems for Scots as of early 2023 involve credit cards, energy bills and council tax arrears.

However, the organisation is concerned as well that a growing number of homeowners might soon find themselves in financial difficulty, with the Bank of England having repeatedly increased its base rate of interest in recent months.

The worry is that people whose fixed-rate mortgage deals come to an end in 2023 will suddenly see their monthly outgoings increase significantly.

More broadly, Survation’s research suggests that roughly six in 10 adults across Scotland are now worried about how they will afford to keep paying their bills over the course of this year.

“It’s no surprise that energy bills, council tax, and credit cards are the most common forms of debt, but some people have found themselves owing thousands of pounds,” explained John Baird from Advice Direct Scotland.

“Many are using their credit cards for day-to-day spending, and we know that many households did this to pay for Christmas,” he added.

“As fixed-rate mortgage deals come to an end, there is further concern that more people will struggle with repayments in the months ahead. We urge people in Scotland not to struggle alone with their debt.”

If you live in Scotland and you are struggling to cope with your debt situation then Scotland Debt Solutions can help. Contact us directly to arrange a FREE and confidential consultation.