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Expat Calls to Consumer Charity Increases
British expatriates are struggling to pay bills in their new resident countries because of the weak sterling, a consumer charity has warned.
According to the Consumer Credit Counselling Service (CCCS), more expatriates are looking for help to repay debts this year.
Calls to the charity's helpline made by people living outside the UK have risen by a third since the start of this year.
The charity noted that the increase was boosted by those living in Eurozone countries who keep their income in sterling, and consequently are noticing the drop in value.
Laura Carver of CCCS, said: "The decreasing value of the pound is the main reason that those living abroad are struggling to repay their debts.
"We have had people whose income had allowed them to live comfortably abroad, and although that income hasn't changed, they have been left struggling to make ends meet."
Another spokeswoman for the helpline said expatriate pensioners living abroad may be asset rich but are cash poor.
The falling value of the pound has meant many pensioners are seeing their income drop when they change the currency into euros.
Those with expatriate healthcare insurance may be protected from some elements of currency exchange rates, which could help in situations where medical treatment is necessary.
Expatriate Healthcare specialise in providing international health insurance. Make sure you're protected.