Debt worries increase for Lincoln residents

The number of people in Lincoln seeking debt advice increased by 40% in the first six months of this year, according to new figures.

Figures obtained by the Office of National Statistics and compiled by the Step Change Debt Charity show that for the first half of the year, 457 residents in Lincoln sought advice from the charity helpline.

The figure is a rise of 40% from 327 calls from Lincoln in the first six months of the previous year.

For household budgets, the figures show a slight reprieve in Lincoln. Those contacting the charity from the Lincoln area were £42 per month better off than the same time last year.

However, accounting for a rise in basic living costs, bills and tax, the average person had just £23 to spare at the end of each month.

In the first six months of this year, the people of Lincoln who contacted the charity owed an average of £10,737 in unsecured debt including credit cards, personal loans and overdrafts.

The release of the findings comes as part of the charity’s Need to Sleep campaign, which raises awareness of the negative impact of sleeplessness.

Mike O’Connor, Chief Executive of StepChange Debt Charity, said: “Many people are plagued with severe financial worries that can have a huge impact on their health, relationships and even their ability to simply get a good night’s sleep.

“All too often, people face their debt burden alone, which can worsen the pressure and anxiety they are feeling. We would encourage anyone who is struggling with debt to take that first crucial step and seek free, confidential advice from StepChange Debt Charity.”