12 Jun 2019

Exactly when you should start worrying about your level of debt?

A new survey shows people are waiting a long time before getting concerned about their finances.

A new study has shown that the average Brit doesn’t begin to worry about their debt until it hits £5,613, a study has found but financial experts are warning people they should begin to seriously think about it a lot sooner before the debt gets even wore.

A recent poll of 2,000 adults revealed the average adult in the South West only considers themselves to be ‘in debt’ once they are in the red by almost £3,203.

Despite this those in the South West only begin to see this debt as a serious concern requiring action when they owe over £5,000. If you are in £5000 or more in debt, CLB may be able to help you.

Further stats from the survey, commissioned by Salary Finance, revealed 14 per cent of the population admitted they would need to owe more than £10,000 before they started to seriously worry.

If you are considering a Debt Management Plan or IVA , we strongly recommend you get in touch with CLB today before you agree to anything. We may be able to help you become debt free.

Contact us today on 0330 124 4252!