Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

 
Bank refunds: Strike a balance between paying debt and saving

Consumers who are currently trying to obtain bank refunds should learn to strike a balance between saving and paying off any debts they may have.

David Rodger, managing director of the Debt Advice Foundation, a provider of free and impartial debt advice, was asked if it is better to pay down debt or save at the moment.

He replied: "With very low interest rates being paid on savings and high interest rates being charged on borrowings, common sense would tell you it’s better to pay off what you owe.

"However … there is an argument for increasing savings to make sure that that you are well prepared should the worst happen.

"It's all about getting a balance to suit you."

He added that savings are also useful for unexpected events.

Mr Roger's comments come as research by unbiased.co.uk showed that savings levels have surged as rate of paying back debt slowed at the start of 2011.

Jennifer Haines

Jennifer's speciality knowledge is credit card changes and balance transfers.
 ADNFCR-2776-ID-800575181-ADNFCR



Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Town
County
Post Code 
Email 
Circumstances
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website www.gov.uk/moj/cmr number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B16, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide