Consumers becoming 'more open' about talking about their debt problems
Consumers becoming 'more open' about talking about their debt problems
- Thursday, 23 December 2010Consumers have become more open about talking on the subject of their debt, which may make them more likely to seek
debt advice.
That is according to Jasmine Birtles, founder of moneymagpie.com and financial journalist who regularly appears on TV programmes such as BBC News and The Wright Stuff.
She said: "Consumers talking about debt and being open about it is different. I'm glad to see it happening and I think it is very much part of the credit crunch.
"Also we have had the spending review, and what that did was to make us feel we were all in it together. I think even the middle-class indebted people are more open to discuss their problems now."
In this way the recession could be seen as positive if more people are discussing their
debt problems as it may reduce the taboo associated with seeking
debt help.
Ms Birtles made these comments after R3 revealed, on December 22nd, that 38 per cent of Brits financially struggle to make it to payday.
Those who found it difficult stated that their struggle now begins on day 19 after being paid compared to day 20 in July 2010.

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