Debt becoming a “way of life”

Helen Saxon from the Finance and Leasing Association (FLA) has moved to encourage consumers to consider carefully the terms of a credit arrangement or debt consolidation loan before opting to borrow money.

In addition, as Britain’s debt management problems pile up, Ms Saxon points out that for those who know where to look “there is advice out there”.

“I do think society has moved into debt being a way of life…you need to make sure that the debt is good debt as opposed to bad debt [and] that you know what you’re taking on,” she made clear.

Earlier this week, in response to the latest Budget announcement from chancellor Gordon Brown, the FLA suggested that there were thousands of small businesses around the UK who will be “missing out” under the new corporation tax arrangements.