Debt problems in seaside town among UK's worst
Summary
Great Yarmouth, a seaside town in England, has the third highest rate of people using debt respite services in the country. Many residents face financial difficulties partly because seasonal jobs end in the winter, and rising living costs due to global events are expected to increase debt problems.Key Facts
- Great Yarmouth has 36.2 people per 10,000 entering a debt respite scheme called Breathing Space, the third highest rate in England and Wales.
- Breathing Space offers temporary protection from debt collectors for up to 60 days and provides debt advice.
- The highest rates were in Halton, Cheshire (54.9 per 10,000) and Blackpool (38.1 per 10,000), another seaside town.
- Since 2021, the number of people in Norfolk using debt respite services nearly doubled from 8.8 to 17.2 per 10,000.
- Seasonal work in Great Yarmouth leads to financial struggles in winter when jobs are scarce.
- Poor mental health can worsen debt problems as people avoid dealing with money issues, causing debts to grow.
- Rising costs due to global conflicts are pushing more people into debt across the country.
- National Debtline advises people to seek help early to avoid deeper financial trouble.
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