Young Scots Uged to Find Help to Resolve Debt Problems

    GLASGOW, SCOTLAND, December 13, 2014 /24-7PressRelease/ -- Increasing numbers of young Scots are falling into debt because of limited job prospects and welfare cutbacks but help is at hand with one organisation, Scotland's Trust Deed, saying they can help resolve the stress and strain of being in debt.

The call has come after a new report from the Office for National Statistics (ONS), 'Measuring National Well-being - Exploring the Well-being of Young People in the UK' was published.

The ONS makes clear that 1 in 10 young people who are aged between 16 and 24 in the UK are finding their financial situation 'difficult or very difficult'.

However, in another survey by Citizens Advice Scotland (CAS) they found that one in four young Scots have experienced debt difficulties by the time they are 21.

Help for young Scots in debt
Margaret Lynch is the chief executive of CAS and she told one newspaper that too many Scottish people are 'drowning in debt'.

She added: "The number of young Scottish people in debt is particularly worrying with four out of five young Scots having been in debt by the age of 21. A third of them have owed more than GBP5,000."

Ms Lynch revealed that more than 40% of people calling its debt advice line said they were going without food or heating in a bid to pay off their debts and many of them were being pursued aggressively by creditors.

Scotland's Trust Deed can help
The director of Scotlandstrustdeed.co.uk said: "Being in debt causes a variety of problems and stresses but there can be a way to resolve the situation.

The ONS report points to a lack of jobs for young people in Scotland which means a lack of money for most young Scots and also those who continue in full-time education are feeling a financial pinch.

Over the past 10 years, the unemployment rate for young people has risen from 12% in 2004 to 21% this year, according to the ONS's Labour Force survey.

Get help for your debt situation

"Our message is simple to young Scots - do not suffer in silence. We are available between 8am and 7pm and can help put forward a solution that will work for you and your situation."

Scotland's Trust Deed are available on 0141 297 1178 and they are keen to help. Alternatively, visit their website at http://www.scotlandstrustdeed.co.uk.

MORE INFORMATION
For help and advice about debts, and to learn more about a trust deed, contact the helpful staff at Scotland's Trust Deed on 0141 297 1178 or visit their website for more information on sequestration and the debt arrangement scheme.

For help and advice about debt and benefit sanctions, visit the website for Citizens Advice Scotland.

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