Debt worries ‘very common among UK consumers’

An expert from one money management site has highlighted the extent to which debt concerns can play on the minds of UK consumers, in a development which may interest those hoping to avoid a poor credit rating.

According to Kim Stephenson, financial psychologist and creator of the Taming the Pound resource, financial worries are currently very common among members of the public.

Discussing some of the potential implications which these concerns can lead to, she stated: “Debt or money worries usually rank third or higher in any ranking of reasons for people seeking treatment for … anxiety.”

As a result of the stress they are experiencing, those with heavy debts to overcome might also have to endure problems relating to their physical wellbeing, Ms Stephenson went on to suggest.

According to Una Farrell, spokeswoman for the Consumer Credit Counselling Service, people may sometimes find it hard to come to terms with the fact that they actually have debt problems.

Source: www.vanquis.co.uk/news