Nearly 700,000 of adults in Scotland are in debt – representing 15.9% of the adult population
More than 8 million people in the UK are living with a debt problem, according to new figures released today (Tuesday, 19 September) by The Money Advice Service.
The figures – as set out in this year’s report by the Money Advice Service, which offers free impartial money advice, and marketing, technology and data specialist CACI – show a moderate increase from figures released in 2016 (15.4%).
Nearly 700,000 of adults in Scotland are in debt, representing 15.9% of the 4,376,847 adult population.
Sheila Wheeler, Director of Debt at the Money Advice Service, said: “This research tells us that one in six people in the UK have financial worries, a figure that stands at over 8.3 million. Debt is a complex challenge and one that needs a collaborative approach if we are to successfully address it.
“We gather this insight to understand where the greatest areas of need are to help us ensure we commission debt advice as effectively as possible. To support this, a new strategic approach to debt advice commissioning is underway, in addition to a major review of debt advice funding independently led by Peter Wyman. Over time, and with the support of our partners, we hope to help more of the 8.3 million people who are struggling.”
The Money Advice Service’s partner in Scotland is the Scottish Legal Aid Board.