Moneyfacts.co.uk expert claims more people opting for debt relief
www.moneynews.co.uk > Debt > Moneyfacts.co.uk expert claims more people opting for debt relief
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Money News |
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Moneyfacts.co.uk expert claims more people opting for debt relief
Tue 2nd Nov 2010
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A spokeswoman for the company pointed out that savings rates are too low to entice many individuals, whereas debt is still very expensive.
In her opinion, consumers are making the decision that it would be wiser to pay off their loans, credit cards and any other owed sums while they can.
She said: "A lot of people are realising that people are still losing their jobs, times are still tough and credit is not as easy to come by as well."
The Moneyfacts.co.uk spokesperson noted that there will be plenty of individuals who will be taking a closer look at their finances currently.
Her comments follow the publication of the Bank of England's latest lending figures, with total net lending growing by £0.4 billion in September, while consumer credit recorded a net increase of £0.3 billion.
Click here for more debt news
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