News
Higher earners face debt problems
Written By:
Your Money
Posted:
Updated:
26/03/2024
People on relatively high incomes are increasingly battling rising personal debts, according to the Consumer Credit Counselling Service (CCCS).
Over three years, CCCS says it has seen a rise of 257% in the number of UK workers
earning over £30,000 a year contacting them for help.
The charity said that such people are seeing their debts mount up as a result of large mortgages and private school fees, among other drains on their resources.
The average debt among high earners turning to the CCCS for advice was nearly £70,000. People in the £30,000 plus earnings bracket represented one in 20 of CCCS’ clients.