Wednesday 26th of January 2011
To ease their debt concerns, those aged between 25 and 44 who are deep in the red may want to start asking individual voluntary arrangement questions.
This is because new research undertaken by One Poll on behalf of F&C Investments has found people in this age bracket are the most worried about their arrears.
According to the investigation, 29 per cent of the 3,000 respondents - which included individuals of all ages - admitted they were scared about servicing their debts - be it for a mortgage or multiple debts.
Indeed, 43 per cent of those surveyed claimed trying to pay off what they owe would be their first reaction to receiving a £10,000 windfall.
Head of corporate affairs at F&C Investments Jason Hollands suggested it is worrying to see people still not controlling their finances adequately.
A recent poll by Halifax Home Insurance found 58 per cent do not feel they have enough money to justify going on a night out this January following the expense of the festive period.
By Rachel Powell
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