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Debt 债务

2009-10-14 11:10:21

I want to know: how do British people manage their personal finance problems? Thank you.

Jane, Inner Mongolia

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British people are used to being in debt. According to the Bank of England, about £233bn is owed by Britons with overdrafts, credit cards and other types of loans.

In the past two years, as the economy deteriorated, many people have lost their jobs and face the prospect of losing their homes. It has also become increasingly obvious that addressing personal debt problems is an urgent issue for many.

Credit cards, receipts and a padlock

More people are asking for help with their debt problems

The Citizens Advice Bureau (CAB) is the main provider of free financial advice to the public in the UK.

In this programme, we hear from Alex McDermott, policy officer at the CAB. He explains the circumstances of how people get into debt, what people can do to reduce their personal debts and the emotional impact debts have on people’s lives.

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