UK Insolvency Helpline rep notes need for debt relief

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UK Insolvency Helpline rep notes need for debt relief

Tue 21st Sep 2010

Many Brits are getting into financial difficulties because they are not able to carry through their good intentions, according to a UK Insolvency Helpline representative.

Richard Sorsky, councillor at the firm, explained that plenty of people aim to pay off their debts but end up using the money to pay for other things.

He noted that people usually have the "best intention", but the problem is that everyday life can be expensive and there are often unexpected costs to deal with.

Mr Sorsky said: "The intention is to use these credit cards and overdrafts for emergencies but unfortunately they are using it more and more for everyday expenses."

In his opinion, people do not save as much as they did in previous years and they are finding it harder and harder to just keep themselves clear of debt.

These comments were made in response to a report entitled the Janus Capital Group Survey of European Consumer Finances, which showed that 32 per cent of adults in the continent are currently saving.

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