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Debt problems 'should be dealt with seriously'

Debt problems 'should be dealt with seriously'

- Wednesday, 14 July 2010

Debt problems can become a health issue if they are not dealt with seriously and many Britons have a relaxed attitude towards money problems, claims an expert.

According to the Debt Advice Foundation, the number of consumers dealing with money trouble could increase due to pay freezes, job cuts and VAT rises.

David Rodger, managing director of the charity, said: "Debt problems can affect all areas of a person's life, including relationships, work performance and their health and wellbeing, so it is important to take the problem seriously and tackle the issue as soon as possible."

He added that for some people the reality of debt does not hit home until their situation has worsened and their debt problems are spiralling out of control.

Mr Rodger wants consumers to be educated about borrowing and saving in order to change people's relaxed attitude towards financial difficulty.

Moneysupermarket.com found that 60 per cent of consumers would not worry about their debt even if they lost their job.
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