“Over-indebted families” up 14% in Algarve

More Algarve families are struggling to pay their debts this year than last, says consumer watchdog DECO, which has revealed a 14% hike in the number of requests for help received in 2017.

Among main issues are “the deterioration of working conditions, low salaries offered for new jobs and unemployment”.

DECO Algarve adds that most people in debt have “low levels of financial literacy”.

The watchdog is thus promoting activities at local schools to help children realise the importance of managing money efficiently.

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