Advice NI advice services continue to support clients who are deeply concerned about the ongoing interest rate rises and who are struggling to keep up mortgage and other financial repayments.
Rises in interest rates, childcare costs, supermarket inflation and rising household bills cause additional strain.
NI’s largest advice charity dealt with 4,062 cases and £35.3m in household debt in 2022.
Northern Ireland’s largest advice charity Advice NI is urging people to avoid getting into costly debt over the Christmas period.
As children across Northern Ireland return to school in the coming weeks, Advice NI is urging people to seek advice as many struggles to cope with the triple whammy of additional costs of summer holidays, the Cost of Living crisis, and the increasing costs of school uniforms.
In the first two months of 2022, Advice NI’s Debt service has already dealt with over £3.5 million of debt. It is concerning that the average household debt of our clients is currently £3,727.24, an increase of 21% since the same period in 2021.
Responding to Chancellor Rishi Sunak's Spring Statement, Advice NI's Chief Executive Bob Stronge said:
Since January 2021, our debt service has advised 3,809 clients and dealt with over £19 million in debt.
“We had expected an announcement from Power NI following on from rises across the energy sector and unfortunately we may yet see further rises in all energy costs in the New Year,” said Bob Stronge, Chief Executive
Northern Ireland’s largest advice charity Advice NI is encouraging people to avoid getting into costly debt over the Christmas period.
