Colchester MP Sir Bob Russell

THE average debt of Colchester residents seeking advice on their money worries is £18,766.

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Every week around 20 people in the town approach the charity Consumer Credit Counselling Service (CCCS) because of their huge personal debt.

However, the average sum owed by the 1,000 residents that approach the CCCS for help is below £22,000 – the national average debt for people helped by the charity.

It has also fallen from 2005 when the average debt figure for those seeking help in Colchester was £30,000.

The figures were revealed by Colchester MP Sir Bob Russell after he had a meeting at the House of Commons with representatives from the charity.

Sir Bob said he urges residents with financial problems not to go to those who charge for their services in dealing with debt management but to instead seek the help of Citizens’ Advice Bureaux, or deal directly with CCCS, which is the country’s only major charitable provider of non-statutory debt management plans.

“The Consumer Credit Counselling Service currently administers more than 115,000 debt management plans across the country, around a third of the total number in place in the UK,” he said.

“These plans are a crucial tool, enabling those who can to repay their debt in a way that is cost-effective and fair.

“For many, the plans provide a breathing space at a time of severe financial strain.

“For those in financial difficulties, the unique position of CCCS is that it provides free debt advice services which enables the charity to ensure that people pay less – and are able to repay their debts more quickly when compared to clients of fee-charging, for-profit commercial debt management companies.

“Indeed, using commercial firms means that people are further burdened financially.”

The charity, which is self-funded, employs 800 people across the UK and receives 290,000 calls for help every year.

Lenders share the benefits they receive by making a donation from the money repaid to them.

The Helpline number for Consumer Credit Counselling Service is 0800 138111.