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Debt consolidation `one of many options`

06/06/2008

There are a diverse range of options available to help free consumers from debt, according to Experian.

Debt consolidation is one of the possible solutions to help those who are struggling with their finances.

Customers who feel that they do not have their finances under control can also get advice on tackling the problem from the Citizens Advice Bureau or the National Debtline

James Jones, consumer education manager at the company, commented: "I would encourage people to always speak to their lenders if they are struggling to make payments and if they feel the situation is getting out of control, they should seek advice from one of the free advice agencies."

Mr Jones also added that people should make a regular evaluation of their financial situation at least every month or quarter.

Twenty per cent of consumers in the UK only plan their finances once every six months or even less frequently according to research by the company.

More than 4 million fear they`ll be made redundant 16/12/2010 - According to R3`s quarterly personal debt tracker, more than 4 Consumers took on more mortgage debt in July 26/08/2010 - Consumers took on £2bn more mortgage debt than they repaid Debts called in by parents 26/08/2010 - According to research, `the bank of Mum and Dad` is Teenagers `scared of debt` 19/08/2010 - Nearly two thirds of teenagers are `scared` of debt, according