Tuesday 11th of January 2011
People who are already struggling to keep their finances in order and are deep in the red should endeavour to keep on top of their monetary situation, it has been claimed - which could see them start to ask individual voluntary arrangement questions.
Adults in the UK need to keep abreast of any changes that happen to their holdings, suggested managing director at moneymaxim.co.uk Mark Bower, who warned a growing number of banks and building societies are beginning to charge for authorised overdraft facilities.
The industry expert advised individuals to read every piece of post sent by their financial providers and not to assume it is simply junk mail.
He remarked: "The constant shifting of the goalposts makes it difficult for customers to keep tabs on whether a 'valuable' benefit is being withdrawn or not."
Lovemoney.com recently highlighted an increasing number of banks are starting to charge for overdraft use after Norwich and Peterborough Building Society announced its customers will have to pay a monthly fee for the facility.
By Neil Burton
- 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
- 2% mortgage rate increase 'could cause debt worries'
