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PPI Claim News - 27/1/2010

Loan Refunds: Personal debt is a 'big worry' for consumers

High levels of personal debt will remain a big worry for consumers over the next six months, a survey suggests.

The latest figures from the Nielsen-British Retail Consortium (BRC) consumer confidence survey show that 69 per cent of consumers are keen to plump any "spare cash" straight into paying off their debts.

Credit card debt and personal loans for car and home finance have resulted in increasing numbers of people becoming crippled by debt.

Justin Sargent, managing director for Nielsen Consumer UK said: "The number of people saying they are saving is at the highest the consumer confidence survey has ever recorded and people remain very concerned about the amount of debt they are shouldering."

The survey also revealed that as a result of mounting personal and corporate debts, over half of respondents do not think the UK will have fully recovered from the recession by the end of the year.

A recent report by the BBC highlighted the problems of increasing levels of consumer debt.

It revealed that in the third quarter of 2009 UK banks were forced to cancel £1.6 billion of credit card debt, twice the amount recorded in the previous quarter of the year, due to people not being able to meet their repayments.

Belmont Thornton can help you make a PPI claimPayment Protection Insurance Claim, or a credit card charges claim. For free PPI Claim advice call 0845 526 0000 or fill in the Quick Claim box to be sent a PPI Claim pack or credit card charges claim pack.ADNFCR-2776-ID-19579994-ADNFCR

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