DERRY debt management company McCambridge Duffy says it is busier than ever as levels of household debt continue to spiral.
However, Ronan Duffy, partner with the firm, insists there are many solutions that can help alleviate crippling debts.
Mr Duffy revealed this week that levels of household debt are at an "all time high" and, while household incomes are higher than ever, home repossessions are also up 30% year on year. Allied to the fact that Derry reported almost £6 million debt over the past year, it becomes apparent that debt is worse than ever.
Mr. Duffy told the 'Journal': "Debt is a huge problem nowadays. More and more local people are now coming to us and we find that, throughout the North West, debt management continues to be a problem."
However, Mr Duffy insists there are solutions to debts and firms such as McCambridge Duffy can help.
Mr Duffy says those who find themselves in debt should be honest about their situation, especially with spouses: "There's a certain stigma attached to being in debt, but it's so common these days that there is nothing to be afraid of. Last year, there was £6 million worth of debt in Derry alone, but the most important message is that people need to do something to address their debt.
"It's important that people don't bury their head in the sand and that they go seek advice about it at the earliest point and don't leave it for six months," he said.
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