Credit Action Response to Increases in Consumer Debt at Barclays (May 2005)

Commenting on the annual results announced today (May 26) by Barclays Bank which show that consumer bad debts are worse than expected, Keith Tondeur, national director of Credit Action, and a member of the Griffiths Commission said:

"These results from Barclays Bank confirm the fears expressed by the Griffiths Commission that millions of people are sitting on a debt time bomb. Clearly for some people the problems of over-indebtedness are already hitting home.

"Anyone struggling to make debt repayments should seek help at the earliest opportunity. Don't ignore things and don't borrow more money to get out of debt".

For help with debt problems contact CCCS on 0800 138 1111. The service is run by Credit Consumers Counselling Service and lines are open 8am to 8pm Monday to Friday. There is no charge for any of its services.