2 sets of debt management statistics were released this week, showing a stark contrast between the viewpoints of consumers struggling with unsecured debts. The Association of British Insurers (ABI) and Shelter, the housing charity both released their figures this week.
The ABI took a positive approach to debt management for the start of 2010, saying that 42% of people struggling with debts intend to pay off their unsecured debts faster than before. This figure is up from 34% this time last year. This was an encouraging statistic, especially when in the same report over 30% of people thought that the current economic conditions would worsen in 2010!
If you are intent on becoming debt free as soon as possible then contact MRA Debt Help, where one of our debt counsellors can offer you free debt advice.
In contrast, Shelter have found that up to 1m homeowners could be using their credit cards to pay their mortgage payments. This is not only an expensive way of keeping up with your mortgage payments, but in extreme situations not meeting your credit card payments could end up with you facing a charging order on your property.
In some circumstances a debt management plan could help, by reducing your outgoings to unsecured creditors and helping you to budget properly. This in turn can help you meet your secured loan and mortgage payments.
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