Many consumers aware of debt levels
September 16, 2010
It has been suggested following recent research that many consumers in the UK are aware of their debts and taking care to manage them as effectively as possible. A recent report suggested that many people were aware of their debts, including credit card debt, and were taking steps to manage their debts.
The recent survey was published by Accountz, and over 92 percent of those that were polled as part of the survey were said to have been fully conscious of the amount of debt that they had to handle. An official from the company said that it appeared that many consumers considered their debt levels to be a serious issue, and were keen to get it sorted out.
As part of the survey the group also looked at overdraft facilities being used by consumers, and the results of its survey showed that just over 30 percent of consumers had not used their overdraft facilities recently. Quentin Pain from Accountz said that it appeared that repaying debts was becoming an increasingly major issue for many people, and something that a larger number of consumers were looking to focus on.
Pain stated: “Interestingly over the past 12 months this level of debt has only increased by 0.8 per cent which is relatively flat year on year.” He also said: “This high level of awareness over personal debt indicates that now more than ever us Brits are becoming more astute in money management.”
He also went on to address the issue about consumers owing the taxman money as a result of computer problems at HM Revenue & Customs, stating that tax officials needed to ensure that they were lenient and understanding with those that were trying to focus on repaying their debt.
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