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Job losses `leading to increase in debt problems`

29/05/2009

Job losses are leading to an increase in the financial problems experienced by consumers in the UK.

This is according to Barbara Shaw, manager of the Citizens Advice Bureau (CAB) in Witney and Chipping Norton, who said that the number of people seeking advice over debt issues has risen, the Oxford Times reports.

Figures cited by the publication suggest that West Oxfordshire has seen a rise of almost 300 per cent in the number of workers wanting advice about redundancies.

Ms Shaw stated: "We expect to see people who are losing their jobs, then people would be coming in worrying about the fact that they are in debt and the possibility of losing their homes and unfortunately then it would be about family breakdowns."

She added that the CAB is "very stretched" because of the increasing demand for its services during the recession.

Earlier this month, Transact suggested its members are reporting rising numbers of middle-income consumers seeking advice about debt issues.

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