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PPI Reclaim: UK consumers should 'monitor' finances

UK consumers should consistently monitor their finances in order to ensure they do not go into debt, it has been claimed.

David Rodger, managing director of the Debt Advice Foundation, has warned that "financial problems don't simply go away" if they are ignored.

He said: "For anyone who is struggling with their finances, it's even more important to know where you stand; not only to ensure your priority debts are being paid but also because you may be able to identify specific periods during the month that are causing your problems."

His comments come in the wake of research by which has revealed that 51 per cent of British bank account holders ignore letters sent to them by the bank.

Furthermore, 24 per cent admitted that they never open their bank statements as they worried about the state of their finances.

Mr Rodger added money problems will only worsen if they are not confronted due to mounting interest and administration charges.

Posted by Amir Hussain

Amir specialises in personal loans, consumer debt and debt management. ADNFCR-2776-ID-800040403-ADNFCR

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