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CARDIFF'S RECESSION VICTIMS FACE OVER £20K OF DEBT

November 30, 2009 12:00 AM

Today, the Credit Consumer Counselling Service (CCCS) released figures showing that 3,500 people in Cardiff have contacted them so far in 2009, with an average debt of over £20,000.

Commenting, Jenny Willott, Welsh Liberal Democrat MP for Cardiff Central, said:

"These figures show that the recession has left some people facing an impregnable wall of debt.

"It is appalling that thousands of people in Cardiff are left with just £4 a month after their debt repayments and basic living costs.

"We must stop the foolish borrowing and irresponsible lending that caused this from happening again. We need proper financial education and advice available to everyone and a clamp down on loan shark behaviour.

"Anyone with serious money problems should contact the Consumer Credit Counselling Service as soon as possible. Their expert and free financial advice is exactly the sort of model that the government should build on."

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