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Debt management may please one in five

Debt management may please one in five

- Wednesday, 18 March 2009

More than a fifth of Britons could find debt management advice helps them to address their savings in the recession.

Figures from Lincoln Financial Group show that 21 per cent of consumers are currently trying to spend less and save more.

This comes as 16 million people believe the inheritance they could be able to leave to their families has been eroded by the credit crunch.

However, debt management advice could be of immediate assistance by helping to reduce the amount which must be paid out in monthly repayments.

And taking a proactive approach to debt management can reduce the overall amount paid back by lowering the amount of interest generated.

Head of products and marketing at Lincoln Financial Group Simon O'Connor says: "People need to carefully plan ways of ensuring they are able to provide as much inheritance as possible for their family."

He explains that the performance of the stock market and reducing house prices are placing this renewed financial pressure on many consumers at present.ADNFCR-2300-ID-19079549-ADNFCR
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