Brexit & EconomyPoliticsFunds needed to tackle middle class debt

Funds needed to tackle middle class debt

CMA urges government to increase funds to debt advice centres in middle class areas as they have seen an 85% increase in people seeking help

Insolvency experts say new figures are a good indication of what could happen
to the rate of middle class bankruptcies in the future as they show an 85%
increase in people seeking help with personal finances.

Mark Sands, director of personal insolvency at
KPMG, said: ‘These figures
are on the front line… most people go from advice to IVAs and bankruptcy.’

Figures from
Community Money
Advice
reflect the hike in people attending its free advice centres.
CMA has now urged the government to increase funds to debt advice centres
because those in middle class areas are having to close their doors to new
cases.

Heather Keates, chief executive of CMA, said: ‘The government needs to look
at this again and increase funds to include middle class areas.’ A centre in
Tunbridge Wells saw a 234% increase in people wanting help.

Related Articles

5 key takeaways from Theresa May’s Florence speech

Brexit 5 key takeaways from Theresa May’s Florence speech

3m Alia Shoaib, Reporter
UK at risk of Brexit talent brain-drain

People Practice UK at risk of Brexit talent brain-drain

4m Alia Shoaib, Reporter
Brexit essentials: this week's round-up

Politics Brexit essentials: this week's round-up

4m Alia Shoaib, Reporter
Government publishes post-Brexit customs arrangements policy paper

Politics Government publishes post-Brexit customs arrangements policy paper

4m Alia Shoaib, Reporter
Italy grants first successful non-dom status application to former UK non-dom

Personal Tax Italy grants first successful non-dom status application to former UK non-dom

5m Emma Smith, Managing Editor
Increased government spending partly offset by high tax revenue

Governance Increased government spending partly offset by high tax revenue

5m Alia Shoaib, Reporter
Less than a third of UK businesses have made formal Brexit plans

Politics Less than a third of UK businesses have made formal Brexit plans

5m Alia Shoaib, Reporter
Nicky Morgan elected Chair of the Treasury Committee

Politics Nicky Morgan elected Chair of the Treasury Committee

5m Alia Shoaib, Reporter