The Debt Counsellors Survey: 'Credit Still Easy'
Initial findings from The Debt Counsellor's survey suggest unmanageable 'easy' debt causing real pain.
(PRWEB) November 21, 2007 -- Credit is still easy to get with not enough questions being asked according to preliminary survey results from www.debtcounsellors.co.uk.
The debtcounsellors survey - now in it's second month, is set to run at least until the new year, digging even deeper into current debt trends. Preliminary findings from the survey show a number of alarming surprises.
Perhaps most worrying and unexpected - given the current intensity of 'sub prime debt' news was the high number of debtcounsellors survey respondents (40%) who agreed that getting credit was still 'easy', and over 60% agreeing that repayment checks are still not adequately made.
With a staggering 1.7 million people turning desperately to the Citizen's advice bureau in the last year and with total personal debt at an all-time high of £1,380 billion at the end of September, further survey facts begin to ring alarm bells: - the debtcounsellor's survey reveals that more than half respondents agreed to feeling 'depressed or worse' and over 12% of all respondents acknowledging that they actually felt 'suicidal'!
Alongside understandable feelings of depression, is the further survey fact that for 35% of respondents debt has been building for between 2 and 5 years, suggesting that for those whose are suffering debt problems - it's a long term solution, not a short term fix that's really needed.
And that's where the final hurdle has just got harder to overcome - recent news show the big banks are now making it costlier for those who seek an IVA as a long -term solution, with many now demanding much higher settlements - 40% up from 25%. according to news sources.
Closing insights from the survey show that fees and charges need to better explained and almost total agreement that 'more information is wanted'.
At this time of year, when demand on money is highest, having clear advice and a robust debt repayment strategy for those who are suffering long term debt problems, is surely a real gift for Christmas and great news too.
If you are concerned about your finances please call The Debt Counsellors for expert debt advice. Call The Debt Counsellors now or click below to be Debt Free in 60 Months.
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