More men 'turning to debt charities'

A growing proportion of men, who have traditionally kept their financial troubles private, are turning to debt charities as rising unemployment and wide-spread cuts in pay force them to overcome their embarassment and seek help. The Consumer Credit Counselling Service (CCCS) said that 221,000 men had contacted debt counsellors last year, a 51 per cent increase compared to 2007. It said that the number of women calling its helplines had increased by only half as much. In a report released today, CCCS said that a quarter of the men seeking support with debts blamed a wage cut for their financial difficulties. A fifth of male clients had been made redundant, while another fifth had too many debts.

Malcolm Hurlston, of CCCS, said: Debt alone is no longer the problem; it is loss of income and other rising costs. This deterioration in the economic circumstances for men, still the main breadwinner in most homes, has serious implications for many households. At the same time, the proposed cut backs in the public sector, traditionally a major employer of women, may well impact on their earnings as well. Historically women have been more willing to seek help with debt, the charity said, despite the fact that women generally have lower levels of debt.

Chris Tapp, director of Credit Action, another debt charity, said: “It is a bit like asking for directions. Men tends to be worse at seeking help and owning up to the fact that they have a financial problem. Debt charities like CCCS are increasingly offering online and email-based debt advice services which enable men to seek help anonymously, which might have encouraged those who would have previously not come forward. It helps to overcome the embarrassment that some people feel.

SOURCE: http://www.timesonline.co.uk/