Woman's debts reach £26k as she battles poverty

An important development from the financial markets: Woman's debts reach £26k as she battles poverty1 hour ago Share Save Add as preferred on GoogleClaire Starr ,in WokingandDaniel Sexton ,South EastClaire Starr/BBCGaynor Lake is now debt-free and able to pay her monthly billsA woman has told how her debts reached £26,000 as she struggled to cope financially. Gaynor Lake, from Woking, saw her debts rise as she struggled to pay her rent and bills, and was supported by a debt advice charity. A report from the charity Christians Against Poverty (CAP) has suggested growing numbers of people do not have enough income to get by or repay what they owe.

"You just tend to hope and ignore it and it will go away, but it won't. It just gets bigger and bigger," Gaynor said. She is now debt-free and able to pay her bills, and has urged anyone struggling to seek help.

Economic Details

Gaynor accumulated her debt over a decade after problems with heating ramped up her bills. She said: "It started off with not paying my council tax to start off with, then it escalated up to my rent. "I didn't want to continue.

I wanted it all to end. I was threatening to take my life because I couldn't handle it. "When she approached CAP, she discovered it would take about 20 years to repay £26,000, but the charity recommended a debt relief order, under which debts can be written off.

Claire Starr/BBCKathryn Cliffe, debt centre manager at CAP in Woking, said demand was rising for services. Gaynor said people "tend to hide" and avoid speaking out, but added: "You need to, so then you can get the help that these people can help you with, and help you get your life back on track. "Kathryn Cliffe, debt centre manager at CAP in Woking, said demand was rising for services: "At the moment we're booking people to see them in August because we have so many people waiting to be seen.

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"Cases are becoming more complicated. A lot more people have mental health problems, sometimes driven by the debt, sometimes exacerbated by the debt, and so it has become more of a problem definitely. "CAP found nearly one-in-four people waited two years before seeking help for debt.

It found that by the time people in the South East sought help, their debts averaged £14,000. A government spokesperson said efforts to tackle poverty were "making a real difference", adding: "Household incomes have risen 5% in real terms, around 100,000 fewer children are in deep material poverty and food bank usage has fallen. "If you are affected by any of the issues in this story, help and support is available at Action Line.

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Financial markets are tracking the development closely as investors assess the likely impact.