Responding to the latest statistics from the Insolvency Service showing a 26% rise in personal insolvencies in Bristol, Stephen Williams, MP for Bristol West said
"These figures show very worrying trends. There are a growing number of people in Bristol who are finding it harder and harder to cope financially. The combination of rising unemployment and record levels of personal debt is spelling catastrophe for many hard working people.
"Last year alone there were nearly a quarter of a million calls to the National Debtline nationwide, and the Citizen's Advice Bureau handled over a million problems relating to personal debt. I have visited Bristol's CAB in Broad Street and recognise the excellent service that they provide to Bristolians experiencing financial problems. With the cost of servicing debt now close to the high seen in the early 1990's urgent action is required. Individuals must be made fully aware of the risks that are involved and of the relevant insurance products available when they take out a mortgage. The latest rise in interest rates, on top of large rises in council tax and energy bills will only add further strain to household budgets"
