Atlantic Financial Management

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Debt management weekly round-up

12/11/2010

It seems that more consumers in the UK are making the decision to dip into their savings in order to generate their own form of debt help.

The quarterly ING Direct Consumer Savings Monitor, found consumers are hoping to pay off their debts and become debt free - while 40 per cent are taking care of other debt reasons like bills.

It's important for consumers to practice good financial habits such as shopping around for their utilities.

Moneysupermarket.com says that households can save as much as £263 on fuel bills each year if they shop around.

MoneySave Energy Solutions confirmed that their average saving for those that haven't recently switched is just over £234.

The Private Members' Bill on Consumer Credit, has been dubbed potentially too restricting for certain consumers.

The Finance & Leasing Association (FLA) says a cap on interest rates would inadvertently mean higher prices and less competition for consumers – which could in turn lead to bad debt solutions.

And finally, a new trade association for financial intermediaries called the Association of Professional Debt Solution Intermediaries (APDSI) has been launched this week to give brokers and consumers more confidence in the people they turn to for the provision of debt advice and, if required, a debt solution.

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