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Hartlepool debt 'not at £8 million'

Hartlepool debt 'not at £8 million'

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Consumers in Hartlepool are in debt to the tune of £8 million, according to new figures published by the Citizens Advice Bureau (CAB).

The organisation stated that people there have seen their debt woes, possible created on loans, increase as the credit crunch begins to take hold, reports the Hartlepool Mail.

Manager of the CAB in the area Joe Michna stated that this is the "biggest issue" facing people in the region.

"The average debt for people that we have been directly involved with has increased to between £14,000 and £17,000," he commented.

He added that the outfit provides "consistent" advice for people in the locality and that this will continue to be available.

Some people even have debts of up to £80,000, he also highlighted.

Recently, the head of personal finance at Fool.co.uk David Kuo stated that the present economic conditions being seen in the UK are down to years of reckless lending .

Your home may be repossessed if you do not keep up repayments on your mortgage.

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