Brits 'can easily' fall into debt problems
www.moneynews.co.uk > Debt > Brits 'can easily' fall into debt problems
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Brits 'can easily' fall into debt problems
Thu 27th Oct 2011
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Carole Spiers, chief executive of the Carole Spiers Group, said unemployment continues to rise and job security is weakening across the country, meaning it is more likely than ever that people could lose their job and then find it increasingly difficult to keep up repayments on borrowings.
She commented: "It is essential that at the first sign of problems in repayment, you must immediately talk to the lender so that they are aware of your position and are able to draw up repayment plans."
Furthermore, Brits should look to avoid taking on any extra borrowings, while living beyond their means should always be avoided.
Meanwhile, Lorreine Kennedy, founder of Carematters-uk.com, recently claimed that many older Brits could significantly benefit from equity release in order to clear their debts and create a cash pot from which to supplement their retirement savings as they get older.
Click here for more debt news
Related News : Debt |
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