BBA calls for ‘financial health checks’

The BBA suggests that consumers should assess their own financial situation in much the same way as they might judge their physical fitness, in order to keep their money matters in good shape.

Furthermore, the BBA insists that the Bank of England’s recent decision not to raise the base rate of interest does not mean Britons can afford to be complacent when it comes to finding a debt solution or avoiding debt management problems.

Chief executive of the BBA Angela Knight commented: “You can go to your bank and talk through your specific needs just as you would go to a personal trainer and talk through an exercise routine.

“It is vital that you set aside some time every month to review your bank statement.”

Personal debt affecting British consumers now totals more than £1,325 billion, according to figures from Credit Action.