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Consumers worried about debt problems could take advantage of a new tool

Consumers worried about debt problems could take advantage of a new tool

- Thursday, 17 March 2011

Brits worried about their debt problems due to increasing inflation and a rise in VAT may like to take advantage of a new tool from Money, Debt and Credit.

The firm has launched the UK Debt List, which is a comparison tool designed to help people discover how their personal debt stacks up in relation to the rest of the country.

It is easy-to-use as the consumer's personal debt level is represented visually with two piles of coins. One pile represents the level of debt the individual has and the other shows the average amount owed by Brits.

The page will also give debt advice based on the data given as well as information about the ongoing personal debt problems that UK adults are facing.

This tool could come in handy for the 80 per cent of adults that are worried about staying in control of their money, following a rise in food and fuel prices.

Brits may also want to use this tool after chancellor George Osborne announces the Budget on March 23rd, as more austerity measures may be introduced.

The project therefore aims to ease consumer's worries by providing a snapshot of their debt and through giving them relevant debt advice.

This follows the release of the company's visual infographic, entitled The UK Debt Problem.
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