One million `struggling with debt without seeking help`
9 February 2010
Insolvency experts R3 have claimed that around a million people in the UK are struggling with debt but not seeking help.
The organisation added that the number of people experiencing financial difficulty is now estimated to be around seven times higher than the number of people in formal insolvency.
R3`s comments follow the latest Insolvency Service report, which showed record levels of insolvency in the final quarter of 2009.
A debt expert at Think Money said: "It`s essential that people struggling with debt do not try to hide or ignore the problem. This only gives the debt time to grow, and it may not be long before it becomes entirely unmanageable.
"We advise anyone struggling with debt to speak with an expert debt adviser, who could help them find the best way to clear those debts."
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Tags: debt, help, debt help, insolvency, insolvency service, r3
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