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Loan claims: Charity warns of telephone debts

While bank claims and credit card charges can significantly damage people's finances, National Debtline has warned about a rising number of people in debt to a telephone company.

In 2007, 5,830 calls - or 3.9 per cent of all communications with the charity - were from people who owed their phone provider money, but in 2011 this figure reached 14,651, or 7.4 per cent of all calls.

Furthermore, the organisation received more than 4,000 calls about this kind of debt in the first quarter of 2012.

A potential cause of this rising issue could be the increasing use of smartphones, with a recent study by Kantar Worldpanel revealing more than half of Brits now own a telephone of this type.

"When you take out an expensive contract for a smartphone, you are in effect taking out a loan to pay for the handset," chief executive of the Money Advice Trust Joanna Elson OBE pointed out.

John Fieldman

Having worked in the city for 19 years, John's main focus is interest rates and corporate finance.ADNFCR-2776-ID-801342517-ADNFCR



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