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Credit Crunch Hits the Middle Classes

Debt management firms have reported huge increases in the number of middle class people coming to them for debt advice, it has been revealed.
The working classes have been feeling the effects of the credit crunch for several months now, but, with things showing no sign of abating, better-off families are finding it increasingly hard to cope.
Living within their means last year, the increasing cost of day-to-day living means that middle class families are now struggling to meet demands for things like school fees, mortgage payments, private healthcare and the cost of running several cars.
A spokesman for commented on the issue, saying, "We're seeing an increasing number of enquiries from the sort of people that rarely got in touch this time last year."
Those in need of financial help have a range of options available including debt management plans, IVAs, consolidation loans and, in extreme circumstances, bankruptcy, and there is no shortage of firms waiting to help.

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