Introducer Today

News Story

One in eight seek debt advice

Wednesday 7th January 2009

More than one in eight borrowers in the UK have sought debt advice, according to new research by MoneyExpert.com.

The price comparison website claims that 13 per cent of British adults have asked for help managing their debt problems forcing many to reconsider taking on bank loans, credit cards and mortgages.

However, the financial services website states that those who are most concerned about their finances are failing to take action soon enough – with 51 per cent of those who are very concerned about debt not seeking advice.

Sean Gardner, director of MoneyExpert.com, said; "Debt has been the ticking timebomb in the UK economy for the past few years with regular warnings that it's about to go off."

"The fear must be that 2009 will see the explosion," he added.

He concluded that anyone worried about their finances should get professional help as soon as possible.

In related news, the National Debtline – which has 90 financial advisers working in its call centre – said it helped 115,000 people with debt problems last year, reports the Daily Mirror.

© Copyright 2007

Send to a Friend

View Comments 0 comments

Report Abuse

There have been no news comments

Post Comments

Please login to post comments:

Post Comments without login

Most Read News Stories:

Regulator to ban self-cert mortgages
Tuesday 13th October 2009

Tesco to launch mortgages before current accounts
Monday 23rd November 2009

Order to suspend HIPs is signed
Monday 17th May 2010

Mortgage advisor pleads guilty to charges
Wednesday 29th October 2008

Case result major blow for claims management firms
Monday 26th October 2009

Discuss in Forum

RSS Feed News Archive

Share this article:

Digg it

Del.icio.us

Newsvine

Nowpublic

Feedback:

If you have any questions or suggestions about this article or our news section, please don't hesitate to contact us.

Claims Financial are a market leader in the £30 billion financial compensation market and 99% of our work comes from partners just like you.

Read More