Atlantic Financial Management

SITEMAP

Contact us on 0845 0 30 30 30
Make Secure Payment

DEMSA Member

Debt issues worsening for UK residents

2/13/2012

More and more individuals throughout the UK are facing increasingly serious debt issues, according to Paul Crayston, media officer at the Money Advice Trust.

According to Money News, he stated that it is probable that borrowers using loans to pay for daily household essentials such as food and fuel are likely to increase in 2012.

The typical profile for someone who is indebted is not an excessive spender but rather a person who has seen their income fall in the past couple of years because of low pay increases and rising inflation.

He said: “If you’re using a credit card or a loan to buy food, pay rent or pay utility bills, that’s a pretty sure sign that you need some advice.”

Furthermore, according to the Consumer Credit Counselling Service one in ten families in London is now faced with being overwhelmed by charges and interest on loans and credit.

Categories; Current UK Economy, Income Worries and Debt,