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Expert debt advice recommended by charity

Expert debt advice recommended by charity

- Wednesday, 11 November 2009

The Debt Advice Foundation (DAF), a UK-based debt charity, has recommended that people who are failing to cope with their financial situation speak to a debt advice specialist.

The call comes after PricewaterhouseCoopers' Precious Plastic report revealed British households would have to repay an average of £5,000 over the next 12 months in order to pay of credit interest.

David Rodgers, managing director of the DAF, said that if people wanted to combat their financial woes, it was important that they start to tackle them head-on.

He commented: "It's vital that people start to understand their true financial situation and budget accordingly.

"For people who are already struggling to repay their debts we recommend they seek expert advice and understand the options available to them.

He went on to say that approximately 300 people every day were failing to cope with their debt repayments and subsequently turning to insolvency solutions.

A record number of people were declared insolvent in August, according to figures from the Insolvency Service.
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