Debt worry for Northumberland children
11/10/2010The need for debt management in Northumberland is clear, after new figures unveiled some worrying trends about the area.
The council report labels the county as the second-worst region in the country for bankruptcy, whilst 13 per cent of the working-age population are on unemployment benefit.
As a result, one-in-five children under the age of four are living in poverty, with the need for debt help in the town of Wansbeck even clearer, as a third of children are classed as being in poverty.
Councillor Lesley Rickerby commented that "child poverty is now a County Council priority and an issue [they] urgently need to do something about."
The Councillor added people had been "shocked and surprised" by the figures, and the amount of debt help needed to remedy them.
Kevin Still, Director of Atlantic Financial Management says: "We are likely to see a rise in Debt Relief Orders (DROs) and people petitioning for their own bankruptcy where they have limited assets and no low income. Both offer a high degree of debt forgiveness and the discharge period is likely to be one year, though the information will stay on your credit file for 6 years."
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