Debt Fixers is changing!

Please be advised that as of 3rd October all future correspondence from us will be sent from our parent company Money Debt and Credit Ltd.

This in no way effects your debt management scheme with us and you don’t need to do a thing. We simply like to keep you up to date with our ever-growing organisation.

Debt Fixers is a trading name of Money Debt and Credit Ltd; so don’t worry, you are still dealing with the same helpful staff!

If you have questions, don’t hesitate to get in contact on 0800 7076108

Click here to redirect or you will be automatically redirected to the Money Debt and Credit website in 30 seconds

Consumers wary of borrowing money

Consumers wary of borrowing money

- Tuesday, 27 April 2010

Consumers are still cautious about taking out new loans with many still wary about the potential debt problems that could follow.

Although the recession has now officially ended, it seems that the record debt problems that accompanied it have left consumers reluctant to take out new credit, figures from the Finance & Leasing Association (FLA) show.

According to the FLA, £3.7 billion in total was lent by its members during February 2010, five per cent lower than in the same month last year and 30 per cent lower than in February 2008.

Fiona Hoyle, head of consumer finance at the FLA warned that rate caps being proposed by the political parties could actually make lending even more precarious for borrowers.

"Caps on interest rates are popular with the political parties, but they are not always good for consumers," she explained.

"If the limit is set too high, consumers end up paying more, and if the limit is set too low, lenders will be forced to exit the market leaving some customers financially excluded or prey to loan sharks."

Last week, a report released by the Office for National Statistics indicated that inflation stood at 3.4 per cent in March.

The rising cost of living could leave more people requiring debt help.ADNFCR-2300-ID-19745540-ADNFCR
Latest Debt Management Plan NewsDebt Management Plan News ArchiveContact us to discuss Debt Management PlansEmail this article to a friendSubscribe to our RSS Feed

Recent Debt Management Plan News

56% of Brits have no life insurance which could leave family with debt problems

Wed, 04 May 2011
More than half of UK adults currently have no life insurance cover, which could mean their loved ones are left with debt problems when they die...

Brits thinking about retirement advised to seek debt advice

Tue, 03 May 2011
Consumers considering their retirement options have been advised to seek professional advice, as they may end up with debt problems in the future...

Brits planning to attend a wedding should start saving to avoid debt problems

Thu, 28 Apr 2011
Consumers concerned about getting into credit card debt to pay to attend a wedding may want to use their savings instead...

Couples planning their big day can avoid debt problems by negotiating a cheap wedding

Wed, 27 Apr 2011
Couples-to-be worried about needing debt advice in the future after paying for a wedding can ensure they avoid accruing debt problems by negotiating a cheap wedding...