British expats struggling to cope with the dive in the value of the pound has led to a substantial increase in the number asking for help with their debts.
The Consumer Credit Counselling Service (CCCS), a Leeds-based debt charity, has seen a rise in calls from people living outside the country who are struggling to repay their UK debts.
At least 500 people with debt in the UK but who live outside the country have contacted the CCCS already this year. This is a 33 per cent increase on the same period in 2009 when it received 375 overseas calls. A total of 1,691 people called the helpline from outside the UK last year.
CCCS says that the increase in calls is driven by those living in the eurozone countries. People whose incomes are in sterling are using more of it to cover the cost of their living expenses.
Laura Carver, a CCCS helpline manager says: "The decreasing value of the pound is the main reason that those living abroad are struggling to repay their debts. We have had people whose income had allowed them to live comfortably abroad, and although that income hasn't changed, they have been left struggling to make ends meet. Many are considering moving back to the UK."Reuse content