- Friday, 7 August 2009Growing numbers of young consumers are suffering from money worries, with many likely to start seeking out IVA debt advice about overdrafts and credit card bills.
That is according to Citizens Advice, which has reported to the BBC's Newsbeat that it helped 15,000 under-25s with debt problems last year alone.
Other common issues affecting young people across the UK and prompting them to seek out professional help and possibly even
IVA advice include council tax arrears, telephone debts, mail order debts and water supply and sewerage debts.
Furthermore, Citizens Advice also revealed that it has seen a 152 per cent rise in the number of young people worried about losing their jobs.
This comes following reports that police are now dealing with a rising number of loan shark cases, with some consumers charging interest of thousands on small loans.
In one such case, Newcastle Crown Court heard how a loan shark charged £80,000 worth of interest on a £500 loan taken out by a woman looking to buy a new computer.
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