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Debt management weekly round-up

07/01/2011 Get Adobe Flash player

This weeks debt news has mostly been based on the theme of how to manage debt after the big Christmas spend, and how best to deal with debt problems as 2011 begins.

On Tuesday we brought you the news that 2011 will see a rise in consumers seeking debt help.

It is believed this will be caused by public sector cuts and redundancies, which will force debt problems upon thousands of Britons.

Spokesperson for the UK Insolvency Helpline debt advice Service, Ian Boden-Smyth says debt problems typically rise in January, following Christmas spending.

He thinks the busiest time for consulting on debt problems comes in January when credit card bills arrive.

And the Insolvency Service says dealing with debt problems is the only way to reduce the number of insolvencies, which remain sky high at the end of 2010.

Despite the figures being less severe than those recorded in 2009, the organisation thinks more needs to be done to encourage people to carry out debt management with their finances. ADNFCR-2613-ID-19950845-ADNFCR

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