Complacency warning for Debt Freedom Day
www.moneynews.co.uk > Debt > Complacency warning for Debt Freedom Day
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Complacency warning for Debt Freedom Day
Mon 22nd Feb 2010
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February 20th marked the 50th day of the year and, on average, the earnings from that period will be spent on paying off the interest on credit cards and personal loans, according to unbiased.co.uk.
The Consumer Credit Counselling Service (CCCS) is using this landmark as a warning to consumers not to be complacent over how much money they still owe.
Laura Carver, CCCS helpline manager, said that being unable to pay off debts is not the only sign of struggling with finances.
She lists only making minimum payments off credit cards each month, lying to loved ones about the level of debt, not being aware of the total level of money owed and using credit cards to repay other debts are all signs that such issues could be becoming too much to handle.
Earlier this month, the charity announced that the first nationally recognised money and debt advice training scheme had been launched.
Click here for more debt news
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