Thursday 9th of April 2009
Attitudes towards debt management have improved among people who been through financial difficulty, according to a poll.
Research from Selftrade indicated that 41 per cent of those who have been through bankruptcy or an IVA now live strictly within their means, with this group most likely to take care over their finances.
The stockbrokers also found that the economic downturn has changed consumers’ attitudes towards debt, while life changes such as redundancy were focusing concentration on debt management issues.
Head of research at Selftrade Stephen Barber remarked: "Brits are becoming intolerant to debt and are sacrificing the lure of instant gratification for long-term goals."
Nearly half of those surveyed stated that their dislike of debt is growing and those who find themselves unable to cope with what they owe may wish to seek IVA advice.
Those who are eligible might also consider debt relief orders, which came into effect this week for people on low incomes who owe less than £15,000.
August 2nd, 2010 at 1:42 pm
Since we’re disscussing the benefits of Bankruptcy ‘has improved attitude towards debt’, Scammers often prey on people who are not careful enough to pay extra attention. For example, with debt settlements, some people are tricked by debt settlement companies into paying high up front fees and then just run away from them without doing anything to ease the debt of the borrower.