British people in denial about debt
According to new research, many Britons are in denial about the level of debt they are in, while others worry about their ability to manage their debt.The number of peoplevin the last 3 months, concerned about their debt increased from 33% to 38% , while 8% stated they are very worried about their ability to repay their debts.
A lot more of the 13.1 million people with debt have had to increase the amount of money they borrowed in the last quarter.
While in the previous quarter, approximately 27% of debtors said they had to increase their personal debt, the figure increased to 32% in the last 3 months, as opposed to just 24% who successfully reduced their outstanding debt.
With nearly 40% of those who owe money worried about their ability to stay on top of their debts, these latest figures add up to a collective cry for help as Britain's enormous debt mountain looms larger than ever.
Anyone with genuine concerns about paying the bills needs to take action to avoid finding themselves in even more difficulty. The answer is not to bury your head in the sand.
Furthermore, A survey has established that many Britons seem to be in denial about the level of debt they are in. 96% claimed to be familiar with their finances, however, when questioned further, many respondents seemed ignorant.
The survey revealed that just 26% knew exactly how much they had left to pay on their loans while a further fifth only plan their finances every six months or less, and 10% confessed that they had no clue as to how much debt they were in.
It's alarming to see that while almost the entire UK population think they are on top of their finances, many are not.
FH Debt Solutions can help you get back in control of your debts. Our highly trained advisors are always happy to help. Our Debt Management Plans & IVAs have already helped thousands of people on their way to becoming debt free.
Call Our Debt Management Helpline Today On 0800 389 6339
FH Debt Solutions are licensed Debt Adjusters and are Data Protection registered. We have partnerships with Licensed Insolvency Practitioners, Credit Brokers and Mortgage Brokers.
There are a large number of companies out there offering services but charging percentage fees on a month by month basis. These fees can be 15% of you overall payment. E.G. payment is £300 their fee is £45. FH Debt Solutions believes in being realistic with charges. We have built up strong relationships with creditors over the years that have helped give our customers a quicker and more effective service. Fees are based on work load, not the amount of debt you owe.
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All customers have an appointed member of staff to deal with their case from start to end. This helps us keep our service high and queries low.
Being in debt is stressful. FH Debt Solutions gives its customers a sympathetic, professional and stress free alternative to their debt problems, and with the office always open, you can call at a time that's convenient to you.
