Managing debt is 'your job, not the bank's'
People in debt need to manage their budget and accept that it is their "own personal responsibility" not their bank's, debt counselling service Thomas Charles & Co has said.
Director James Falla believes that debtors should be realistic about the limitations of assistance offered by banks.
"I think you have to ask yourself what exactly you expect your bank manager to do for you," he said.
Banks can provide templates to "help you write down your budget", they can even "give you someone to help you put a budget together" but they cannot make you stick to the budget.
Mr Falla suggested that consolidation loans should not be discounted when options as to managing debts are considered.
A recent Co-operative Financial Services poll, found that eight out of every ten people worried about their debt and that the average Brit spends two years of their life mulling over personal financial problems.
"Initially I applied for a loan to consolidate my debts. However, after speaking to one of your advisors, it became clear that a far better solution would be to go on one of your financial management plans...
Everything was made so simple and the continual support and advice you have provided from my initial enquiry and whilst on my financial management plan has resulted in my debts nearly being clear now! I can't thank you enough for your help."
Janet N, Birmingham
