DEBT advisers say that in the run up to Christmas more Exmouth residents than ever before are seeking help.

DEBT advisers say that in the run up to Christmas 30 per cent more Exmouth residents than ever before are seeking help.

This is the second consecutive year that coastal towns have experienced the highest levels of personal debt problems and includes Torquay and Dawlish Warren.

EuroDebt Financial Services, an independent debt management company, say they have fielded increased enquires from families and individuals who are feeling the pinch before the festive season.

Enquiries range from Individual Voluntary Arrangements (IVA), debt consolidations, pursuing a debt management plan, general debt advice or as a last resort, filing for bankruptcy.

David Parsons from Exeter-based EuroDebt South West says that people who feel that they are struggling should seek professional advice on managing their finances as early as possible.

He added that it was important not to bury their heads in the sand and speaking to their bank, or lender or an industry approved debt advisor can help you plan out a coping mechanism.

And getting a tailored and realistic debt management plan helps reduce the huge stress that strangling debt can put on people

“Variations in earnings, particularly in seasonally reliant industries, can make it difficult for people to budget accurately and this is when debt can become a serious problem,” he said.

“Many turn to credit cards in a bid to satisfy any shortfall in income, but high interest charges just compound the problem and lead to further stress and worry.