Debt Management could pull UK out of recession

14/09/2009

The nation could be pulled back from the gloom of the recession more quickly if people asked for debt management help.

Insolvency trade body R3 say Brits need to start repaying a total debt of nearly £1.5bn if we're to get out of the recession as quickly as our European neighbours.

This burden is preventing the nation's economy from growing according to R3.

The body's president Peter Sargent said it's time to pay off the debts – the most expensive ones first – and stop borrowing.

A Debt Management Plan'>Debt Management Plan or an IVA are two non-borrowing options for people looking to take control of their finances.

Debt advice firm EuroDebt say they're a good way to pay back a lot of creditors on a long-term basis, based upon what a person can reasonably afford. Personal preference is a key consideration when choosing the debt solution best suited to your needs.

• Share
• 
• 
• Store
• 
• Follow
•