Struggling consumers ‘should seek financial advice’

Those who are struggling financially should seek professional debt advice during 2009, Halifax has suggested.

Research by the lender found that over half (53 per cent) of consumers opted for the opinions of friends and family over money issues in 2008 instead of contacting a financial adviser, while 36 per cent are unaware that such services are available through their bank.

However, those that are aware of financial advisory services largely see them as a reliable source of information, with 85 per cent stating they would trust advice given to them by a finance professional.

“It is essential that consumers make the most out of the free and focused advice available to them from trained professionals in the year ahead,” managing director of Halifax Financial Services Karen Crowshaw stated.

One area where Britons are already seeking advice is that of redundancy.

Cizitens Advice stated recently that it has seen a 125 per cent jump in the number of people wanting help on the issue since April.

By Tom Musk