Financial news categories
Financial news archive
- May 2012
- April 2012
- March 2012
- February 2012
- January 2012
- December 2011
- November 2011
- October 2011
- September 2011
- August 2011
- July 2011
- June 2011
- May 2011
- April 2011
- March 2011
- February 2011
- January 2011
- December 2010
- November 2010
- October 2010
- September 2010
- August 2010
- July 2010
- June 2010
- May 2010
- April 2010
- March 2010
- February 2010
- January 2010
- December 2009
- November 2009
- October 2009
- September 2009
- August 2009
- July 2009
- June 2009
- May 2009
- April 2009
- March 2009
- February 2009
- January 2009
- December 2008
- November 2008
- October 2008
- September 2008
- August 2008
- July 2008
- June 2008
- May 2008
- April 2008
- March 2008
- February 2008
Debt consolidation is one option for people in debt
06 June 2008
People struggling with their finances should consider debt consolidation, according to a credit report company.
Debt consolidation is just one avenue for those suffering debt problems while those who feel the situation is out of their hands should contact advice agencies such as citizen's advice or the national line, claims James Jones of Experian.
Mr Jones, consumer education manager at Experian, said: "Debt consolidation is one of a range of options. I would encourage people to always speak to their lenders if they are struggling to make payments."
While only one in five people say they plan their finances every six months or less, according to CreditExpert.co.uk, consumers should routinely check their finances in order to maintain control over their spending habits, according to Experian.
"People should regularly evaluate their finances. I would recommend regular evaluation, monthly or quarterly," said Mr Jones.
Research by CreditExpert.co.uk revealed that one in ten British people admit to having no idea about how much debt they are in.
