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Welsh recession concerns could mean spike in debt advice

Welsh recession concerns could mean spike in debt advice

- Wednesday, 7 April 2010

A new survey has found that the Welsh, still worried that the country is in recession, are finding the prospect of debt solutions hard to come by.

The research, from the Principality Building Society, reveals that more than 80 per cent of Welsh people still believe that the country is in recession.

This is in spite of positive growth figures in the last quarter.

While 40 per cent feel more financially secure now than they did at this point in 2009, many are finding themselves with less money to spend.

Those struggling with debt problems could find themselves in need of professional debt advice.

Many of those who said that they had been affected by the recession said that having less money to spend was their primary complaint.

As a result, 30 per cent said that they were planning on saving more money this year, but many, whose budgets are spread thinly, will be unable to do so.

Graeme Yorston, chief operating officer at the building society, said: "The effects of the recession are clearly still impacting the lives of people in Wales, and despite rumours that the recession is over, it will take some time before consumer confidence is fully restored and people start to spend again."ADNFCR-2300-ID-19707854-ADNFCR
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