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CCCS urges consumers to take action

The Consumer Credit Counselling Service has recently been offering tips and advice to consumers, and has urged those in debt to take action rather than burying their heads in the sand and trying to ignore their debt problems. Last year has been identified as having the overall highest number of personal insolvencies since records began in 1960, and this is despite the fact that insolvency numbers dropped off in the last three months of the year.

The Consumer Credit Counselling Service is now concerned that a rising number of people may end up turning to this sort of measure because of their debt, even in cases where insolvency was not necessarily the only solution. With job cuts, living cost increases, and wage freezes set to continue over the course of this year more and more people could find themselves facing financial problems according to the charity.

The CCCS has suggested that consumers avoid burying their heads in the sand, and instead take the time to take stock of their debts and finances so that they can figure out a way to solve the problem. Many may be able to ease the strain by more effective budgeting and financial control. Others may be able to get debt management advice from charities such as the CCCS. There are a number of different options that can be considered before personal insolvency.

One official said: “With so many factors adversely affecting consumers’ household budgets and finances it is little wonder that so many people are struggling at the moment. This is something that could continue over the course of this year. However, consumers shouldn’t assume that insolvency is the easy way out – it isn’t, as it can create huge barriers and financial issues in the future.”

Tags: measure, three months, debt, action, job, financial

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