"Extremely worrying" debt poll released

04/12/2008

People are now switching their focus to paying off their debts as the financial climate worsens, according to MoneyExpert.com.

The financial website has conducted a new poll, showing that 30 per cent of people are currently "concerned" about their own debt management.

Despite this apparently cautious attitude, MoneyExpert.com also found that 27 per cent of people had upped their debt burden over the past three months.

A hard core of four per cent have even increased their debts by over 20 per cent across the period.

The general financial downturn over recent months, which has led to job losses and restrictions in cheap credit provision, was blamed for the debt figures.

Sean Gardner, director of MoneyExpert.com, said: "Household finances are feeling the strain across the board with people struggling to keep their heads above water.

"It is extremely worrying that so many people are concerned about managing their debts. Nothing's so stark as a reminder that many of us are struggling to repay the money we owe."

Tags; Housing Debt and Bills, Credit Card Lifestyle,

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