Debt Fixers is changing!

Please be advised that as of 3rd October all future correspondence from us will be sent from our parent company Money Debt and Credit Ltd.

This in no way effects your debt management scheme with us and you don’t need to do a thing. We simply like to keep you up to date with our ever-growing organisation.

Debt Fixers is a trading name of Money Debt and Credit Ltd; so don’t worry, you are still dealing with the same helpful staff!

If you have questions, don’t hesitate to get in contact on 0800 7076108

Click here to redirect or you will be automatically redirected to the Money Debt and Credit website in 30 seconds

UK debt problems 'mounting up'

UK debt problems 'mounting up'

- Saturday, 31 July 2010

The UK's personal debt problems amounted to £1,457 billion at the end of June 2010, new figures show.

According to charity Credit Action, the annual growth rate on the country's debt currently stands at 0.8 per cent.

Worryingly, Brits currently owe more money than is produced in the country during a whole year.

What's more, £9.6 billion of the debt was written off in the last 12 months by banks and building societies due to individuals' inability to pay it back.

This works out at approximately £23.5 million a day, a statistic made altogether more alarming by the fact that total lending is also rising, growing by £0.6 billion in June.

"Britain's interest repayments on personal debt were £67.3bn in the last 12 months," the charity explained.

"The average interest paid by each household on their total debt is approximately £2,669 each year."

Credit Action is a registered charity that works with individuals, businesses and groups to highlight personal finance issues.

Last year it created a dedicated Welsh branch, called Credit Action Cymru. ADNFCR-2300-ID-800009625-ADNFCR
Latest Debt Management Plan NewsDebt Management Plan News ArchiveContact us to discuss Debt Management PlansEmail this article to a friendSubscribe to our RSS Feed

Recent Debt Management Plan News

56% of Brits have no life insurance which could leave family with debt problems

Wed, 04 May 2011
More than half of UK adults currently have no life insurance cover, which could mean their loved ones are left with debt problems when they die...

Brits thinking about retirement advised to seek debt advice

Tue, 03 May 2011
Consumers considering their retirement options have been advised to seek professional advice, as they may end up with debt problems in the future...

Brits planning to attend a wedding should start saving to avoid debt problems

Thu, 28 Apr 2011
Consumers concerned about getting into credit card debt to pay to attend a wedding may want to use their savings instead...

Couples planning their big day can avoid debt problems by negotiating a cheap wedding

Wed, 27 Apr 2011
Couples-to-be worried about needing debt advice in the future after paying for a wedding can ensure they avoid accruing debt problems by negotiating a cheap wedding...