Tuesday 4th of January 2011
January could be a month when an increasing number of people, already deep in the red, may seek individual voluntary arrangement answers, as the time of year is often a difficult one for many from a financial point of view.
This is according to Ian Coles, director for Santander Cards, who claimed individuals need to take a proactive approach to their finances at the beginning of a new 12-month period.
The industry figure was commenting on his organisation's findings that over 2.8 million credit card holders will shift a total of £2.8 billion onto new credit cards in 2011.
He remarked: "January can be a particularly tough time financially, which is why we encourage consumers to keep a close eye on their finances and to shop around."
Recent research compiled by Gocompare.com showed 61.1 per cent of UK adults are preparing themselves for a financially difficult year ahead, with many concerned about the rising costs of living.
By Neil Burton
