New figures have revealed over ten thousand people in St Albans district are struggling with debt. The independent Money Advice Service estimates that one in nine St Albans adults find monthly bills a heavy burden or have missed three or more bill payments in 6 months. Seperately, figures released by the Guardian show that consumer debt (personal loans, credit card debt etc.) in the “AL” postcode are which includes St Albans has reached £654 per person, above the national average. Nationwide consumer debt is growing at 10% per year even though real wages are falling.
St Albans Labour spokesperson Roma Mills said, “The enormous cost of housing – whether rent or mortgage repayments – is putting huge pressure on local families. This is pushing many households into unmanageable debt – we urgently need real investment into affordable housing and sensible annual increases in wages which reflect the increasing cost of heating, transport and inflation.”