‘Increasing debt problem’ for one in four adults
Article Category: Debt Consolidation Help and Advice
A quarter of adults in the UK have seen their debt problem increase in the past three months, it has been claimed.
Figures from MoneyExpert show that 25 per cent of consumers have increased their personal debt in the wake of recent rises in the Bank of England’s base rate.
More than 2.48 million adults - about seven per cent of the population - are now very concerned about their finances, researchers found.
A further 24 per cent are concerned - prompting the financial insight firm to predict hard times ahead for many Britons.
“With more than 2.48 million very concerned about keeping on top of their debts it is clear that there is a serious crisis brewing,” warns MoneyExpert chief executive Sean Gardner..
“Anyone who is very concerned about their ability to keep on top of their debts is heading for serious trouble if they do not take action now.”
He recommends consumers consider obtaining a debt consolidation loan as a means of getting their borrowing under control.
Previous figures from the firm showed 18 per cent of Britons took on personal debt in order to pay for their summer holiday.
For more information about debt consolidation call our advisors on 08000 122 118 for FREE, no obligation help and advice.
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