Debt management plan could be ideal for credit-crazed Britons

Debt management plan could be ideal for credit-crazed Britons

Friday 16th of October 2009

A debt management plan could be of interest to 65 per cent of Britons who admit they will slip back into old habits when the credit crunch is over.

Research by Aviva reveals that only one in three people plan to stick to the money-watching tendencies inspired by the recession.

Despite tightening their purse-strings in recent times, 30 per cent of people say they will soon start eating out in restaurants rather than cooking at home, one-quarter will book foreign holidays instead of staying in the UK and 15 per cent will pay for more takeaway meals.

Dr Doug Wright of Aviva said: "Even as the economy improves and the temptation is to return to the way we were before, we would like to encourage people to keep up their new behaviour."

People who do see the back of the economic downturn as a chance to splash the cash may be interested in repaying any debt they build up with a debt management plan.

The plan can reduce interest rates on debt and renegotiate repayment periods with creditors - which could be ideal for those whose bank balances will not quite have recovered from the credit crunch.

By Mark Waterman

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