Monday 15th of November 2010
Debt problems made up a third of all enquiries from under-25s to a community charity from April 2009 to March 2010, research has shown.
Those people who are struggling to resolve their monetary problems may decide to seek individual voluntary arrangement answers to try to deal with their financial burden.
Statistics published by Citizens Advice revealed that over the year it had dealt with nearly 800,000 problems from individuals under the age of 25, an increase of 21 per cent on the previous 12 months.
The biggest concern for people in this age group is the amount they owe on personal loans, with 30,646 issues being fielded by bureaux - a rise of ten per cent.
Gillian Guy, Citizens Advice chief executive, stated: "It can be scary and daunting to seek advice if you have a problem - but more often than not, the sooner you tackle it, the easier it is to put right."
Last week, figures released by the charity showed it dealt with 2.4 million debt problems in 2009-10.
By Ashley Littley
