• The women we helped between March 2012 and February 2013 had average unsecured debts of nearly £10,000 - only marginally less than men.
• Their average disposable income was £250 per month - again, slightly less than men.
• Debt Advisory Centre helps men and women alike deal with an average of 6 unsecured debts.
As part of International Women's Day, Debt Advisory Centre is raising awareness that there's not much of a gender difference when it comes to debt problems. It helped an equal number of men and women over the last 12 months, with similar debt issues. Women had slightly lower debts, but slightly lower incomes too. Overall, the men and women who received debt help had very similar problems.
Women come to us for help with debt problems that have got out of hand. Over 12 months, the women who started a debt solution with Debt Advisory Centre had average unsecured debts of nearly £10,000 and average disposable incomes of £250.
Disposable income is important because this is the money that's available to repay creditors. Many women find their disposable income falls:
• During and after maternity leave
• If reducing hours at work - to raise a child, for example
• When paying for childcare
• Following a relationship breakdown
Both men and women can find their finances tipped over the edge by other changes in circumstances, such as redundancy and illness, as well as having simply overspent.
Ian Williams of Debt Advisory Centre commented: "Sometimes events are unplanned and sometimes individuals simply aren't financially prepared for a change in circumstances. Starting a family, for example, should be a time for celebration, and it's a shame to let debt problems overshadow what should be a really happy time."
The women that Debt Advisory Centre helped over 12 months had an average of 6 unsecured debts, just like men (unsecured debts include credit cards, personal loans, payday loans and overdrafts).
Dealing with more than one lender can be very difficult to manage. Debt Advisory Centre can deal with lenders on behalf of the people they help, making it easier to manage their finances and work on clearing their debts.
That might involve setting up an informal repayment plan with lower and affordable repayments or - if necessary - a more formal insolvency arrangement. It really depends on the circumstances and finances of the individual and what they feel most comfortable with.
Mr Williams continued: "We help both men and women to deal with debt problems that have become unmanageable. We strongly urge women with debt problems to take a good look at their finances and seek out help if they need it."
Notes to Editors
The Debt Advisory Centre offers expert debt advice, as well as a range of debt solutions for people facing financial difficulties.
For more information, visit the Debt Advisory Centre website at www.debtadvisorycentre.co.uk.
Debt Advisory Centre
Tel: 07855 214851
This press release was distributed by ResponseSource Press Release Wire on behalf of Debt Advisory Centre in the following categories: Personal Finance, Business & Finance, for more information visit https://pressreleasewire.responsesource.com/about.