According to a survey, Scotland’s debt is out of control. Citizens Advice Bureau announced that a large portion of their workload comes from consumers who have gotten themselves trapped by large amounts of debt. The amount of consumers needing help has increased 64% from last year.
They also owe more debt than the rest of Britain, with 27% of adults having credit card debt – while England has 23%. The average Scot’s amount of debt just on credit cards is an alarming $14,500. They announced that they have had cases of consumers owing up to $184,835.
A major source of the problem is how easy it is for most people to get a card. Some card holders have almost 20 cards in their names, which is absurd. With this amount of debt, the CAB has called for greater restrictions to make it tougher to get credit – and therefore much harder to get into debt. ■
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