Money Debt and Credit

February 08, 2011 03:00 ET

Money Debt and Credit Visualise the Ever Changing State of UK Debt

LONDON, UNITED KINGDOM--(Marketwire - Feb. 8, 2011) - Money Debt and Credit have produced an infographic revealing the current personal debt situation in the UK. The infographic entitled The UK Debt Problem, contains key statistics in an easy-to-digest visual format and plans are underway to update this quarterly to make the public more aware of the changing state of UK debt.

As a leading provider of financial solutions, Money Debt and Credit have noticed the increasing challenges faced by consumers today when it comes to dealing with their debt.

With an increase in VAT to 20% in January and the high rate of inflation, household budgets are being stretched even further. Reduced income due to benefit cuts and continued redundancies only add to the problem.

During 2011 UK consumers may also face a rise in interest rates and, therefore, debt repayments at a time when they are already struggling to meet existing outgoings.

Chris Meaker, Head of Business Development at Money Debt and Credit stated, "We want consumers to be aware of the changing state of debt in the UK. All too often an individual finds that they are coping quite well with their debt until an unexpected event changes the whole situation. It doesn't take much to be suddenly caught in an uncontrollable spiral of debt, and it is often difficult to admit that there is a problem. We hope that by knowing that they are not alone, it helps them to seek advice as quickly as possible."

Infographic for Q4 2010: http://www.moneydebtandcredit.com/debt-information/debt-problem-2010Q4-98.aspx

Notes for Editors:

Infographic: A visual representation of data or information.

Money Debt and Credit is a leading provider of financial solutions offering a one-stop service to consumers on a range of products including Debt Management Plans, IVA's, Full and Final Settlements and Secured Loans.

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