Wednesday 16th of February 2011
People experiencing significant debt difficulties may wish to seek help as soon as they can.
For those owing in excess of £15,000, this could mean asking individual voluntary arrangement questions, as chief economist at Nationwide Robert Gardner has claimed many UK adults are pessimistic about their money situation for the near-future.
The industry expert noted less than one in five believe the country's economic state is likely to improve over the next six months.
His comments came as it was revealed consumer confidence dipped in the first month of 2011 - almost reversing the small gain witnessed in December.
"Household confidence remained in the doldrums in January, with the main index falling towards the all time lows recorded during the recession," Mr Gardner stated, adding this is not surprising when taking into account influences such as the rise in VAT.
Yesterday, it emerged the UK Consumer Prices Index annual inflation rate escalated to four per cent in January.
By Rachel Powell
- Debt consolidation loans falling, figures show
- Britons 'changing attitudes' towards debt management
- Homeowners 'more concerned with debt management'
- Low interest rate 'contributing to debt management efforts'
- Debt management growing in importance, survey finds
- 331 bankruptcies and insolvencies 'filed every day'
