Almost half of people 'do not seek advice when in financial dire straits'
www.moneynews.co.uk > General finance > Almost half of people 'do not seek advice when in financial dire straits'
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Money News |
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Almost half of people 'do not seek advice when in financial dire straits'
Tue 7th Jul 2009
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Research from the Financial Services Consumer Panel has found that of those who do turn to others for advice on improving their finances, one-third went to their mortgage provider, while one in four asked a Citizens Advice Bureau.
Despite their hesitation to ask for help, seven out of eight people in difficulty said that the problems they have are particularly serious.
Chairman of the Financial Services Consumer Panel Adam Phillips said: "We need to do much more to encourage consumers in difficulty to get advice early. Debt advice agencies must not be seen as a last resort when all else has failed."
The Citizens Advice Bureau revealed last month that it advised on six million more problems from April 2008 to March 2009 compared to the same time during previous year.
Click here for more general finance news
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