Shame, feeling overwhelmed and uncertainty about where to turn are stopping some people in Northern Ireland from asking for help with problem debt, according to new Consumer Council research.
Many also hold back because they believe they can sort out their money issues alone. The report, From Banking to Borrowing: Understanding Consumer Financial Experiences in Northern Ireland, published today, shows many people delay seeking support for months, with some waiting more than three years.
“The research shows us that barriers to consumers seeking debt advice and support remain, including stigma and feelings of shame,” said Sean Breen the Director of Financial and Postal Services at the Consumer Council.
“There remains work…