Debt crisis hits City professionals

CITY bankers are turning to Colchester's Citizens' Advice Bureau in a bid to cope with growing debt crisis.

Advisers with the charity helped desperate clients write off more than £3.6 million of debt at the Colchester centre last year.

The average debt per client was in the region of £8,000.

The highest was a client with debts of more than £200,000 - excluding his mortgage loan.

Comments(5)

theequaliser1 says...
11:31am Sun 13 Jan 13

even though anyone with this type of stress is quite fearful we do have sympathy, however there is a but.
i know many that are doing well very well indeed.
some of them in london wont give you the steam of their P.....h!!!!
so be warned lets not get too soft on them.
just remember 30,000 twits in the financial sector that put us in this crap in the first place.
the loads of money ideal crashed and burned to the ground along with other mantra's that came to nothing.
some of us never saw the good times or were never on the gravy train.
they only see the hurt and the pain of not being able to get an operation, or to see a doctor on time.
just let us all take a little stock while we are helping these fellow citizens out when they are shedding a tear through their harrods hankerchiefs.
i am sorry you cant ponce about in your porsche or range rover anymore,
I am sorry that you cant sit on a verranda over Lake Guarda in a luxury 5 star hotel, in your complimentary gown sipping champange at 10 am in the morning thinking your James Bond:
I am sorry that you cannot walk into M&S food halls and spend more on food in a day than some of us do in a month:
But this is the real world and you know live in it with us the mere mortals that will have to pay up and pay back through taxes and cuts to pay these massive debts off.
one of my children has been reduced to poverty because of the likes of the london-ites who messed this nation up. as they cannot get the support from the education system they need.
i have to wait for an operation way over time because of cuts friends of mine waited twice as long and walking about urinating through their trousers from 7 months because there was no or is no money.
we remember and have sympathy for you.
now you remember us!!!!
this is life this is the real world.
remember in the words of david morrell
you are out here now this is my world!

itsmyopinionthatcounts says...
1:43pm Sun 13 Jan 13

Totally agree with the above comment, what sort of lifestyle must you be living to run up £200,000 of debt (exc. mortgage), obviously a world you CANNOT afford to live in !!!!

Boris says...
2:53pm Sun 13 Jan 13

itsmyopinionthatcoun
ts
wrote:
Totally agree with the above comment, what sort of lifestyle must you be living to run up £200,000 of debt (exc. mortgage), obviously a world you CANNOT afford to live in !!!!
But they could afford it while the highly-paid job lasted. Then they got sacked and they failed to adjust quickly enough.
Luckily we still have a the remains of our welfare state, so they will not starve. We also have the CAB which is grossly underfunded, and has had to slash its staffing because of the recession. It would be good if people still in well-paid jobs made substantial donations to the CAB, then there would be a better chance of it still being there in case they need it themselves one day.

Biggus Davus says...
8:11pm Sun 13 Jan 13

What a load of bile filled twaddle!
People get into debt every day for a myriad of reasons, they did so before the recesssion and they will continue to do so, are we going to refuse to help people based on their profession, why don't we go the whole hog and base it on skin colour?

And just because someone works in London, even for a bank, it doesn't mean they were responsible for the recession, the people who were are far above the pay grades of someone who has to go to the CAB for financial advice.

As for "well paid people making substantial donations", have you heard of 40% and 50% tax brackets?
That's people paying half their earnings to fund those who are unable or too lazy, how much have you paid into the NHS this month?

It's about time we stopped blaming the worlds problems on someone just because they're doing well for themselves, or drive a nice car, or live in a bigger house, some people work bloody hard for what they've got, who are we to judge?

Boris says...
11:06pm Sun 13 Jan 13

Biggus Davus wrote:
What a load of bile filled twaddle!
People get into debt every day for a myriad of reasons, they did so before the recesssion and they will continue to do so, are we going to refuse to help people based on their profession, why don't we go the whole hog and base it on skin colour?

And just because someone works in London, even for a bank, it doesn't mean they were responsible for the recession, the people who were are far above the pay grades of someone who has to go to the CAB for financial advice.

As for "well paid people making substantial donations", have you heard of 40% and 50% tax brackets?
That's people paying half their earnings to fund those who are unable or too lazy, how much have you paid into the NHS this month?

It's about time we stopped blaming the worlds problems on someone just because they're doing well for themselves, or drive a nice car, or live in a bigger house, some people work bloody hard for what they've got, who are we to judge?
OK, Dave of slightly above average height, consider this.
If people work bloody hard for what they've got, they can afford to pay more. They should not expect to keep it all for themselves.
I used to pay tax at 55%, and I did not begrudge it. I now pay tax at 40%, and I don't begrudge that either.
I have probably paid more into the NHS than you, but tell me what you are paying at the moment and I will tell you how much I pay.
If you are still in your well-paid job, I repeat my recommendation: give some money to the CAB, you may need it one day.

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