DEBT problems are surging according to Citizens Advice, which has reported that the number of people appealing for help with mortgage arrears in January and February was more than a third higher compared with 2007.
Up to one in 10 home owners admitted they were likely to miss a repayment during the coming year, according to research by
moneynet.com, the financial website.
UK consumers are more than £1.3 trillion in debt th
rough loans, credit cards and overdrafts. Research, from
www.moneysupermarket.com carried out during Budget week, showed just 16% of Britons are not worried about their finances suggesting people from all walks of life are struggling to keep on top of their money.
Citizens Advice warned that bankruptcy was likely to be the only option for a growing number of people hit hard by “super-inflationary” rises in basic living costs.
DIY damageDIY fans could create £25m worth of damage taking on home improvements over the Easter weekend, according to a survey by Allianz Insurance which found that 16% of householders have trashed their property and almost 30% have injured themselves or others while carrying out a DIY task. Around 200,000 DIY enthusiasts are treated in hospital each year.
More than half admitted they started a DIY job without the correct tools and nearly as many confessed to attempting a job, including electrical and plumbing work, without know how to do it. Research from Saga reveals one in 20 DIY fanatics has had to call in a tradesman to correct their work.
Pensioner angerSCOTLAND On Sunday readers have been counting the cost of the Chancellor’s scrapping of the 10p tax band announced in the Budget.
Those particularly hard hit include women pensioners, who retired at 60, but who will not benefit from the enhanced personal allowance of £9,030, which only kicks in at 65.
One reader, Lynette Livingstone, said: “I am furious that the Chancellor didn’t even mention the scrapping of the 10% band during his speech. All the articles I read highlighted the increase in fuel allowances and in personal allowance, but no mention of a vulnerable group of pensioners who would be worse off. Many people do not know what is coming their way. I can’t believe a Labour Government would do this to some of the least well off.”
