UK Money News
14th January 2008
Consumers 'must be informed about debt solutions'
Given the current affordability issues being experienced by many people in the UK, it is more important than ever that people are aware of the help with money available when they start to experience trouble with debt.
So claims Debt Help UK, a money advice organisation dedicated to providing achievable solutions for those who have fallen into bad credit.
It states that being aware of all the options can be instrumental in finding the solution which is appropriate for the circumstances, rather than being shepherded into one that does not suit current needs.
Iain Wrenshall, director of Debt Help UK, said: "It's incredibly important. It can make the difference between finding a solution and having a solution thrust upon you."
He added that those needing help with finance must acknowledge their problems rather than burying their heads in the sand, which could result in creditors being given the option of making decisions for them.
According to recent data from price comparisons site uSwitch.com, consumers are currently in danger of getting further into trouble with debt due to the £93 billion in interest paid each year on loans, credit cards and mortgages.
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