Third party organisations are the best option for consumers looking for debt help, it has been suggested.
According to the Consumer Credit Counselling Service (CCCS), banking groups and money lenders are not ideally placed to offer appropriate financial advice to their customers who are dealing with debt management problems.
However, there are plenty of ways in which indebted Britons can help themselves and establishing a workable budget in the early part of the year is a good place to start, the CCCS makes clear.
“I think is it better to talk to a debt counselling charity because sometimes with banks they may just say ‘we’ll just give you one consolidatory loan’,” said Frances Walker, from the CCCS.
“You are better to go to an independent third party charity such as ourselves.”
Prior to the Christmas period, the Citizens Advice charity warned consumers across the UK that they ought to plan ahead in order to avoid the increasingly common new year debt hangover.