Consumers ‘don’t trust the finance industry’

According to Which? 21 per cent of people have had a bad experience with the industry that could have led to them needing debt help due to the problem.

Doug Taylor, a personal finance campaigner from Which? said: “These are worrying statistics. The financial services industry’s past actions and mis-selling scandals have scarred British consumers.”

He added that this was worrying as people seeking a debt management plan plan for the future with a pension.

However, Mr Taylor said that the industry still cannot be trusted to deliver on the government’s new pensions policy.

Mr Taylor called for a “simple, trustworthy scheme” to help improve trust in the financial services industry and to stop a future “pensions crisis” that could see people spend their retirement in debt.

The survey comes as a growing number of experts call for more responsible lending in order to improve the debt levels of consumers and to regain trust in the finance industry.


Tell others:


By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.