Debt management 'offers better solution'
Debt management 'offers better solution'
Wednesday 18th February 2009
According to the Daily Record, seeking professional advice and drawing up a debt management plan tailored to their specific requirements can offer consumers a "more comprehensive solution to debt".
The newspaper explains that debt management firms are able to offer struggling borrowers "a range of options" to help organise their finances and pay off arrears.
While consolidating all debt repayments into a single loan can be a "tempting option" for many people, the credit crunch has made it increasingly difficult for borrowers to obtain loans of this kind.
The publication suggests that debt management may provide consumers with an alternative method of getting their finances back on track.
Latest figures from Credit Action state that the UK's total personal debt stood at £1,457 billion at the end of December 2008, while the average household debt is now £59,700 including mortgages.
News article brought to you by Debt1 - UK debt management specialists.
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