Debts are a big problem for Londoners as the cost of living is disproportionately higher in London than across other areas of England. According to the Money and Pensions Service, 51% of Londoners are either at risk of needing advice or need debt advice – the highest in the UK. Top debts for our new clients the last full quarter were; Rent arrears (40%), Council Tax Arrears (39%), and Water Bill (31%) which has for the first-time overtaken credit card debt (30%) as our third spot Worryingly, the average number of debts our clients have has almost doubled over the last couple years and has spiked at 3.9 debts on average per client for the last FY.
Matt Dronfield, Managing Director of Debt Free London, speaks with BBC London's Tolu Adeoye to raise awareness of just how common money struggles are - and the importance of seeking free and impartial advice as early as possible.
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