Managed Debt Solutions could help people enjoy their relationships

15/02/2010

With Valentine's Day approaching, it has been revealed that many Britain's are too troubled by financial and work worries to enjoy time with their loved one.

Research from Scottish Widows found that 36 per cent of people felt that their relationships were being neglected more than other areas of their lives.

Finances and work problems appeared to take precedence over personal lives with 12 per cent of people reporting that they were primarily concerned about making ends meet.

Alison Morris from Scottish Widows commented: "It is time for the nation to start putting their relationships first and other concerns such as money worries second".

Debt management could help by taking some pressure off with structured repayments.

People were also suffering from having less time to spend with their children as increasing worries over debt forced around four million people back into work after having children, despite 25 per cent of respondents stating that they wanted more time to spend with their children.

Kevin Still, director of EuroDebt, commented: "One of the real strengths of a Debt Management Plan [DMP] is that it only requires one monthly payment to the Debt Management Company based upon what you can reasonably afford and the on-going negotiation with your creditors is managed for you. DMPs are very flexible to changes in your circumstances, positive or negative, and you are not bound in contractually.

"So you can leave at any time if your circumstances improve and there are no financial penalties for doing this. A topical example would be people with mortgage arrears that may have stabilised with low interest rates, but aren’t being cleared."

Posted by Fiona Smith

Tags; Debt Management and Banking,

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