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Women on maternity leave should try to avoid loans to prevent debt problems

Women on maternity leave should try to avoid loans to prevent debt problems

- Thursday, 28 October 2010

Women on maternity leave should consider all their financial options and try to avoid borrowing money through a loan as they may end up needing debt advice in the future.

That is the opinion of Nicola Scowen, director at Women in Debt, which aims to give money advice to females, who also stated they should seek advice from their banks.

She believes that women on maternity leave should consider their "ongoing affordability" before obtaining a loan as they may be better off seeking a short-term solution if they are experiencing a reduced income due to their situation.

Ms Scowen said: "If her money problems have simply been compounded by her maternity leave then she should not seek to borrow to get further into debt but should seek professional help from a debt advice professional."

These comments follow the release of figures by Bounty Parenting Club on behalf of Turn2Us, which found that 53 per cent of mothers racked up debt while on maternity leave.

It was also found that 23 per cent of women who are currently on or have been on maternity leave have used a credit card, while the same figure relied on their overdrafts.
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