Debt management weekly round-up
22/10/2010The likelihood of debt levels soaring throughout the UK has featured heavily in the news this week, beginning with the Department of Energy and Climate Change revealing fuel poverty numbers have increased.
This was a view reiterated by uSwitch, with the consumer body saying 46 million people within the UK population think a hike in household bills is likely in the near future.
In measures which could help remedy these debt reasons, the government announced plans this week, to investigate how they can make dealing with debt easier for consumers.
The Treasury and Department for Business (BIS) want to find how people can better manage their borrowing and improve the debt help available for those who get into financial problems.
This includes the possibility of placing a cap on high interest rates for credit and store cards.
Of course the big story of the week was the Comprehensive Spending Review – which threatens the loss of almost half a million jobs.
Kevin Still of Atlantic Management, said: "With government cuts to many of the departments involved in providing front-line debt advice to UK residents there is a responsibility on the leading commercial debt solution providers to fill the gap in debt advice capacity with the potential for so many UK consumers facing rising costs or a loss in income." 
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