People 'must start fixing their debts'
People 'must start fixing their debts'
Thursday 23rd October 2008
Cesarina Holm-Kander, a celebrity personal finance journalist who hosts the Channel 4 programme Your Money or Your Wife, said that now is not the time for Britons to continue to be complacent about debt management.
When the economy was in a healthier state and credit was more easily attainable, some consumers did not save and now find themselves in trouble, Ms Holm-Kander said.
People are struggling from the effects of the credit squeeze and a 13 per cent drop in house prices over the last 12 months, she commented.
"Unless those people start fixing something ... they will be in real trouble. The cost of not doing anything is enormous," Ms Holm-Kander added.
Her comments come as Credit Action figures show that average household debt in the UK, including mortgages, is £59,350.
News article brought to you by Debt 1 – The UK’s Number 1 for debt management company.
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