Debt Advice Help and Support

Consolidating debt for financial concerns (26 Jan 2012)

The high cost of utility bills, food and petrol and the impact they have on the nation's wallets are the biggest financial concerns for UK consumers in 2012.

 

Consolidating debt can come in a number of forms, depending on how much you owe – and this could start with debt advice to put you back on track.

 

A debt management plan for instance, would be used to address substantial debts or - an IVA could be entered into, if you owe more than £12,000 to various lenders.

 

Comparison site MoneySupermarket.com reports that a quarter of UK households would be unable to survive for more than a week should their income dry up suddenly.

 

Clare Francis, consumer finance expert, at MoneySupermarket, says: "Over the past twelve months, UK households have experienced a sharp increase in the cost of living".