Unemployment and divorce factors behind debt

Debt charity StepChange say that two of the factors behind the debt problems of the callers who contact them are unemployment and divorce.

Of the just over 22,000 calls from adults aged under 24, a third cited unemployment as the single biggest reason for their debt problems. Among older callers, marriage separation and divorce was given as one of the biggest causes of financial problems. Unemployment was given as a reason for debt problems by nearly a quarter (23%) of older callers aged 40 to 59. They also pointed to things like salary reductions, work absence through illness, or having to look after children.

The rate of unemployment increased slightly in Northern Ireland, and it has remained particularly high among young adults for some time.

If you live in Northern Ireland and require legal advice in respect of debt, including applications for bankruptcy, contact one of the bankruptcy solicitors at Wilson Nesbitt in Belfast by calling 0800 840 9291.

Or if you would like us to call you back to discuss any legal matter, including debt, employment law and divorce, you can submit your details online and we will get in touch with you.