Debt advice the way forward for retirement plans

14/09/2009

Financial Planning Week saw its final day yesterday after seven days of money advice for people with cash problems.

One finding from the week's event is that the majority of Brits don't think their savings will be enough when they retire.

A poll by the Institute of Financial Planning found that just under three quarters of people believe their savings scheme isn't enough to see them through retirement, while just OVER three quarters said they didn't have a proper retirement plan in place.

Debt solutions firm EuroDebt have registered an increase of their over sixty clients – and a third of those still have a mortgage to pay off with unsecured debts of over £40,000.

EuroDebt's director, Kevin Still, says alternative debt solutions like Debt Management Plan'>Debt Management Plans or an Individual Voluntary Arrangements'>Individual Voluntary Arrangement, commonly known as IVAs, are becoming more popular ways of tackling unmanageable unsecured debt on credit cards, store cards and personal loans.

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