Many cannot sleep because of their debts
April 2, 2011
According to a leading debt charity there are many people that are unable to sleep as a result of their debts, which are causing them huge amounts of stress and worry. Many people are now in huge levels of debt and are over-committed when it comes to their budget. This is causing them a lot of stress and impacting on their sleep as well as on other areas of their lives, such as their health, work, and relationships.
The charity also said that there was a good chance that these problems could continue to get worse as a result of possible rising interest rate increases, pay freezes or wage cuts, government cutbacks, and continued rising living costs, all of which have impacted on the budgets and finances of many people. More and more people are now turning to debt charities because of the problems that they are facing according to reports.
The debt charity, the Consumer Credit Counselling Service, said that in one night alone they had received 50,000 calls between the hours of midnight and seven in the morning. Out of these calls around fifteen thousand of them had been received between midnight and one in the morning.
One official stated: “Consumers have seen their pay frozen for the last few years while the cost of running a home and getting to work has soared. This means that we have less pounds in our pockets. But with inflation now hitting 4.4 per cent and almost six in ten of the workforce is seeing a pay freeze, households are facing an uphill struggle that may only get tougher next year. By this time next year, the squeeze on our spending power could look a lot worse.”
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