Consumer: 50pc of people in Yorks are worried about debt

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Half of people in Yorkshire are worried about their levels of debt – close to the national average of 51 per cent.

The figure is the highest share of people who have felt that way since September 2012.

Half of people in Yorkshire are concerned about their levels of debt.

Half of people in Yorkshire are concerned about their levels of debt.

More than 2,000 adults were polled by R3, the insolvency trade body, and market research agency ComRes, and found 50 per cent of people in Yorkshire are worried about the debt.

The poll found 55 per cent were most worried about credit cards, followed by 20 per cent about overdrafts, 19 per cent mortgage repayments and 17 per cent about bank loans.

And 46 per cent of people in Yorkshire said they often or sometimes struggle to make it to pay day – slightly higher than the national figure of 43 per cent. Most of those struggling cited the rising cost of food as the problem, and 45 per cent blamed rising household energy bills and 39 per cent the cost of transport.

The figures come as Leeds City Council continue its three-year drive to make Leeds a “payday” free city – to help those who may want to turn to lenders to help with rising debts. Council bosses are discussing measures to stop some of the city’s poorest families from being trapped in a cycle of poverty and debt.

Their campaign aims to tackle high-cost lending following a recent boom in people turning to lenders and loan sharks to make ends meet. Up to 60,000 people in Leeds could be forced to use high-interest lenders. Around 22,500 people are believed to have taken out payday loans to pay their bills. And recent figures compiled by the British Bankers’ Association (BBA) and the Council or Mortgage Lenders (CML) mapped out average areas of personal loan debt per head in Britain – and found that people living in the Leeds postal sector of LS17, which includes Harewood and Moortown, owe an average of £1,516 in personal loans per head, which was the highest figure found for this type of debt.

But R3’s report also found 30 per cent of people in Yorkshire expected their personal finances to improve over the next six months – compared to 24 per cent across the UK.

William Ballmann, chairman of insolvency trade body R3 in Yorkshire and partner at national law firm Gateley LLP, said “The good news is that, with the economic recovery gaining ground, the share of British adults that feel optimistic about their personal finances is growing slightly with Yorkshire and the Humber more upbeat than much of the country.

“However, the bad news is that the share of British adults who are pessimistic about their personal finances is growing faster.”

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