It is reported that the average sum owed by with men seeking debt help is generally 20% more than their female counterparts. Many men owe nearly £30,000 compared to women who owe an average of £24,000 even though they generally earn more than women.

The average age of a man entering a debt management programme is believed to be 45 and it generally takes him around 22 months longer to completely clear all debts compared to females whose average age is around 43. Also, men spend more each month covering their household outgoings than women.

http://www.londonstockexchange.com/en-gb/pricesnews/investnews/article.htm?ArticleID=18329636

CITY RESIDENTS IN DEBT
It has been reported that consumers are borrowing more and more money with people living in London having the largest amount of debt. A recent survey showed that residents of the six areas in Greater London had the biggest debts followed by people living in Liverpool and Birmingham. This seems to prove that the increasing cost of living in London is not matched by the corresponding salary increases leaving people to rely more on credit than on savings.

http://www.gm.tv/index.cfm?articleid=27275

YOUNG PEOPLE AND DEBT IN THE FUTURE
In the future it is expected that many more young people in the UK could find themselves in debt and will be looking for ways to solve their debt problems. Many are not receiving adequate financial advice from their parents' or choosing to ignore parents' suggestions believing them to be unrealistic. Many of the younger generation believe they have not been given enough advice about managing their finances with some already worrying, at 11 years of age that they will get into financial difficulties in later life.

Many teenagers take the responsibility of having a part time job but they have access to a far wider range of goods and services and are more social than their parents were at similar ages.

http://www.moneyhighstreet.com/news/18324955+Young+people+%27don%27t+take+financial+advice+from+parents%27/

Generally it appears that people are caught in a spiral of borrowing to pay off their creditors and then spending on credit again because they cannot afford to pay for the essentials in life such as mortgage or rent and food with many believing they will be in debt for all of their life. As an experienced debt management company, EuroDebt can help relieve the stress of dealing with creditors and help you get back in control of your finances. Contact us today.

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