Transcribed

Do You Know What Causes Bad Debt?

Do you know what causes bad debt? In a recent survey half of those polled thought that overspending ("going wild in the aisles") was the main cause of debt problems... 49% 48% ...but in fact the reality is very different 29% 23% 10% 9% 10% 9% 8% 4% P45 Pay cut or job loss Family illness or death Overspending Other Divorce *Poll results courtesy of ežonomics (www.ezonomics.com). ežonamics aims to present economic and financial information in esy-to-understand and engaging ways. **CCCS Stats Yearbook 2010, based on what our 2010 clients reported as the primary reason for their debt problem However you got into debt we can help you break free. Visit www.ccs.co.uk/debtremedy or call 0800 138 1111 Counselling Service CONSUMER CREDIT A Registered Charity The perception* The reality**

Do You Know What Causes Bad Debt?

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Do you know the main causes of debt? We asked this question in a recent poll carried out in association with eZonomics. Despite the fact that more and more people struggle with debt each year, ther... e is still a stigma attached to being in debt. We wanted to see how many people think that problem debt is fuelled by reckless credit card spending. The results of the poll, shown in light green in the graphic above, are that almost 50% of the people we asked believe that overspending is the major cause of debt problems in the UK. However, the perception that overspending or ‘going wild in the aisles’ is the biggest cause of financial difficulties, is too simplistic.

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Consumer Credit Counselling Service