Many people ‘feel debt is impacting financial security’

People’s feelings of financial security are being negatively impacted by debt in a number of cases, it has been suggested, which may interest those aiming to repair bad credit ratings.

As many as 21 per cent of the people queried in a Scottish Widows survey reported that their finances are proving difficult to focus on at present because of debts which are affecting their feelings of security.

Some 25 per cent of the consumers failing to address their finances properly said that they deliberately aim to avoid looking at money matters.

Scottish Widows savings expert Iain McGowan commented that people might wish to make plans for the future to safeguard their financial security.

He stated: “We all know how important it is to save and make time to look after money worries, but 35 per cent of all of us admit our financial security or savings are not being prioritised nearly enough.”

Meanwhile, Scottish Widows also recently predicted that some 28 million consumers in the UK may not possess any kind of life insurance cover at present.

Source: www.vanquis.co.uk/news