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There 'should be no stigma' attached to seeking debt help

There 'should be no stigma' attached to seeking debt help

- Wednesday, 26 January 2011

Families and pensioners with debt problems should not feel stigmatised if they seek debt advice.

Such is the opinion of Mark Bower, managing director of moneymaxim.co.uk, which is a price comparison website.

In reference to companies who offer debt help he said: "Lower income families and pensioners in particular should be able to access their services easily, and without stigma, if the worst results of tightening budgets are to be avoided."

More people may end up with debt problems due to the increase in VAT, the recent seven per cent price rise in gas and electricity prices, hike in fuel costs and higher food prices, Mr Bower added.

There are ways in which to combat this such as shopping around online to find the best electricity tariff or using discount vouchers.

Mr Bower made these comments after the release of the Household Finance Index by Markit on January 24th.

The index found that there has been a sharp rise in the number of households expecting their finances to worsen over the next year.
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