NEWS...
Don't do a Darwin if in Debt
The current court case of John and Anne Darwin is a harsh reminder about the lengths some people may go to in order to break free of debt and lead a more financially stable lifestyle.
The sharp rise in the cost of fuel and food, combined with fears over falling house prices, has meant that consumers all over the country are feeling the pinch. But like John Darwin, 57, it is the over 55-year-olds whose debt levels are accelerating faster than any other age group. Negativity amongst this age group has peaked as a result, with 41 per cent describing their attitude towards their finances as pessimistic.
With the older generation falling into more and more debt, it is worrying to hear that a shocking 16 per cent of those aged 55 and above are financially unaware and cannot define their debt levels.
Mark Ward, consumer debt expert at Callcredit explained, "In order to avoid having to take drastic measures to steer clear of debt, it is essential that people get their finances into shape. With consumers continuing to borrow and debt levels continuing to rise, we advise consumers to get a better understanding of their financial commitments through checking their credit report.
"Managing personal finances and keeping on top of repayments through this credit crunch is the number one financial challenge for consumers over the coming 12 months. By checking your credit report you can get a clear view of how much you owe and potentially see where savings can be made."
Original articles courtesy of Callcredit. For further information visit www.callcredit.co.uk.
