Debt Pushing Families to Breaking Point Warns North Wales Charity

Towyn CAP Centre is reaching out as 1 in 4 couples in the red split up due to debt

The strain debt puts on families is pushing many to crisis point, a charity revealed today, as research showed nearly a quarter (23 per cent) of all couples in debt will break up due to their financial situation.
 
Christians Against Poverty (CAP), the specialist debt counselling charity, conducted the research amongst its clients and in a worrying development, found that 67 per cent confessed that they had missed meals to make debt repayments and nearly a quarter (22 per cent) did so regularly.
 
The Towyn CAP Centre, which was opened in September 2006 in partnership with North Coast Church in Towyn near Abergele, has already helped scores of people to tackle what is fast becoming the greatest social problem in the UK.
 
The psychological toll on families and individuals was also highlighted by the wide-ranging survey, as over half (53 per cent) of all respondents said the financial strain of being in debt caused arguments and stress with their partner and 69 per cent had visited the GP due to debt-related stress.
 
Furthermore, 40 per cent have also been prescribed medication by their doctor as a result of debt-related stress, as the negative consequences of a life spent struggling to make repayments continue to become more apparent.
 
Personal debt in the UK now sits at a record high of £1.4 trillion and the award-winning charity has also recently launched a free money management course, CAP Money, across the UK to enable people to get a better grip on their finances.
 
Using its successful combination of practical and sustainable financial solutions to debt, coupled with sensitivity to individual and personal needs, CAP gives clients the opportunity to become debt free in five years through its specialist debt counselling service.
 
With a dedicated CAP account offered to all clients, from which the charity administers debt repayments and a specialist insolvency service, the negative consequences of debt are being reversed from Aberdeen down to Truro.
 
Towyn CAP centre Manager, Matthew Hazlewood explains: “Many in the local community are in a desperate situation, with marriages breaking down, meals being missed and medication being used to combat the negative effects of debt.  In short, families face immense pressure and many are breaking down as the credit crunch continues to hit.
 
“The good news is that we’re here to help anyone who feels trapped by debt in Conwy and Denbighshire.  We cannot explain the relief we see on clients’ faces when they realise that their problems are not too big to overcome and we aim to offer hope to those in desperation.
 
“Whilst we’ve already been privileged to help many, we’re aware that so many more in the local community still live under the shadow of debt and I would urge anyone in need to contact me on 01745 331705 if they are at all worried about their financial situation. 
 
“Our specialist advice is completely free and we work with anyone, so please call.”
 
Darren Millar, AM for Clwyd West, said, ”The credit crunch and the growing UK debt crisis are a very worrying indeed.
 
”With banks and building societies reluctant to pass on cuts in interest rates to borrowers and the impact of the scrapping of the 10p tax band, it is no surprise that more households are finding themselves in difficulty.
 
“CAP has been a lifeline to the thousands of people who they have helped to deal with their debts and manage their finances better.  I‘d encourage anyone with financial concerns to contact CAP and take advantage of their free service without hesitation.”
 
For more information, visit www.capuk.org or call on 01745 331705