The credit crunch is taking its toll among the middle-class. As Jill Insley explains, many just don’t know how to stop spendingHigh earners are struggling with debt as much as people on low incomes, according to financial experts and advisory charities. The withdrawal of easy credit as a result of the credit crunch has forced even those earning six-figure salaries to seek help with their debts, one debt management company says.Nick Pearson, director of external affairs for Baines and Ernst, a company that sets up individual voluntary arrangements and debt management plans, says 20% of his firm’s 45,000 customers earn £30,000 or more, and they include judges, surgeons and lawyers. “We even have a client who is earning in excess of £10,000 a month net,” he says. Continue reading…
Source : theguardian.com
Read more…Middle-class life and debt, even on a good salary
