Rising Debt in Young Could Lead to Increase in Demand for Debt Management Plan Services

Demand for debt management plan services are at an all time high. With the pressures of Christmas debt and rising living costs many individuals are seeking debt solutions

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) December 6, 2010 --A recent survey conducted by UK website MyVoucherCodes has revealed that around 89pc of people aged between 18 and 35 owe money on a credit card, loan or overdraft.

The same study also showed that one third believed that they would never be debt free and over half believed that they would always need to borrow in order to live the kind of life they want.

It also showed that 20% were not worried about their debts being passed onto their family if they passed away.
Over half who had debts reported that they did not feel as though they were in control of their and 8% admitted that they relied on family or friends for help with repayments.

Many people interviewed in the survey also said that they believed credit was too easily available.

These worrying statistics suggest that many people are heading for debt problems. With VAT set to increase in January and the added pressure of Christmas spending, debt management plan companies are expecting to see a large increase in demand for their services.

Many leading debt management plan experts have already advised people to try and spend within their means this Christmas and to stick to a budget.

More information can be found online at http://www.mymoneypig.co.uk/

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