Those with debt 'need to be aware of all options'

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Those with debt 'need to be aware of all options'

People who are looking to clear their debt should make sure they educate themselves on all available options for doing so, it has been claimed.

Iain Wrenshall, director of Debt Help UK, said that it is "incredibly important" to understand the various solutions available, as this awareness allows people to take a lead role in their financial planning.

He explained that as a situation involving debt "degrades", a person's range of choices tends to narrow "and ultimately your creditors have the sanction to make that choice" instead.

"So it is important that people don't bury their heads in the sand, but look for free advice which is going to help them understand the solutions and the options open to them," Mr Wrenshall concluded.

The average UK household owes around £56,234, including mortgages, according to figures from Credit Action.
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