Serious debt management problems are in no one’s interest and consumers should take the steps necessary to solve their financial difficulties, says Gareth Mackie, a spokesperson for Halifax.
Mr Mackie has noted that borrowing has become a significant part of British society but is convinced that lenders and consumers have nothing to gain from excessive indebtedness.
With this in mind, the Halifax spokesperson has stressed the importance of finding a workable solution to debt problems as soon as possible through communication with the relevant financial service provider.
However, Mr Mackie has also accepted that many people around the country are struggling to become debt free and to stay on top of their monthly out-goings.
“The advice is to keep on top of bills first of all because they’re the important things to pay, be it mortgage, rent, council tax or utility bills,” he said.
Sainsbury’s Bank reported recently that more than two in five Britons aged under 24 find it impossible to save money on a regular basis.