UK Money News
3rd June 2008
Debt fears looming for nearly 40% of Britons
Consumers with existing debts are becoming increasingly concerned over their ability to repay their credit card and loan debts, a new survey has shown.
In a poll conducted by MoneyExpert.com, 38 per cent of those surveyed said that they are worried over whether they will be able to make repayments on their debt.
The figure represents a significant increase from the 33 per cent who confessed to harbouring similar fears during the previous quarter.
Sean Gardner, Director of MoneyExpert.com, said: "There are many economic and political measures of a downturn, but there is nothing quite as real as people in debt saying they can't repay the money they owe.
"With close to forty per cent of those who owe money worried about their ability to stay on top of their debts, these latest figures add up to a collective cry for help as Britain's enormous debt mountain looms larger than ever."
Mr Gardner advised those worried about their debts to consider "debt consolidation" and "juggling [their] borrowing onto cheaper products".
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