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Consumers 'should consider all debt solutions'

Consumers facing large debts should make sure they garner as much advice as possible, it has been claimed. According to Iain Wrenshall of Debt Help UK, it is "incredibly important" that those in debt consider all solutions and make sure know all their options as soon as possible. In so doing this can "make the difference between finding a solution and having a solution thrust upon you" by your debtors, he said. Mr Wrenshall explained: "As your situation degrades, then your options generally become narrower and, ultimately, your creditors have the sanction to make that choice for you. "So it is important that people don't bury their heads in the sand, but look for free advice which is going to help them understand the solutions and the options open to them." The advice from Debt Help comes as a recent study from price comparison site found that one in four UK adults is facing debts they find unmanageable. Meanwhile, 9.5 million have maxed out on a credit card in the last six months while 38 per cent have been rejected for a credit card.

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