Those in debt ‘need to get advice quickly’

People finding themselves sliding into financial difficulty need to make sure they attempt to get advice as soon as possible, one expert has suggested.

Beccy Wilks, spokesperson for charity Money Advice Trust, said anyone in debt needs to know all the “pros and cons” of the options open to them.

She remarked: “If you are worried you might be getting into difficulty and you feel a drop in income might be on the horizon … it is vital you get help earlier rather than later.”

According to Ms Wilks, National Debt Line received more than 41,000 calls relating to financial concerns – the busiest month on record – showing that the recession is still causing a number of people to get into money troubles.

Recent Credit Action figures found that the average UK household debt is £9,240, not including mortgages.

Total debt in Britain reached £1,458 billion at the end of June 2009.

By Francis Finch


Tell others: