Internet ‘important resource’ for debt advice

The internet can be a useful resource for people looking for debt advice, it has been claimed.

Steve Genders, the head of web at Norwich Union, said that it is important for people to develop their own knowledge online before seeking the advice of a professional.

“You’ve actually got all the information at your finger tips, so use the internet to research the products then go and talk to your financial advisor,” he recommended.

He added that this practice is particularly crucial when deciding on significant products such as mortgages or insurance.

Mr Genders was speaking after Norwich Union launched a new service that allows customers to compare prices with those of its competitors.

Meanwhile, insurance group RSA recently warned retailers of the growing risk of fraud that the popularity of online shopping has created.

Illegal activities such as ‘phishing’ where a criminal attempts to obtain people’s personal details are increasing and credit card fraud rose by 150 per cent in the last six months, it noted.

By Jamie Price