New citizens advice bureau swamped by young professionals

Hundreds of debt-ridden young professionals are turning to a new Citizens' Advice Bureau in London.

The centre in Islington has been inundated with requests for help from first-time homeowners unable to pay off large mortgages and women "maxing out" store cards from firms such as Waitrose and Marks & Spencer.

Advisers say the credit crunch and recession saw a generation of affluent middle-class Londoners finding themselves in serious debt. One of the worst hit group is interior designers.
The centre, in Upper Street, is the first to open in London in about 20 years and sees up to 70 clients a day.

Jeanette Daly Mathias, manager of the service, said that for years it was mainly the poorest residents who sought debt help at the CAB. She said: "People are making poor choices of credit and suffering with loans secured against their homes. In one case a woman found she owed £80,000 over 20 credit cards. But I've also seen people with a £4,000 or £5,000 debts in tears."

CAB workers advise people to pay off emergency debts first and then try to negotiate around other financial commitments.