Low interest rates 'should encourage debt action'

Low interest rates are one factor that might encourage people to address any debt problems they may have, it has been highlighted.

Last year saw the UK's level of credit card debt hit the £54 billion mark, rising by a figure of £4 billion over the 12-month period, according to Unbiased.co.uk.

The website's chief executive Karen Barrett believes that consumers looking to overcome their debt problems might benefit from the assistance of an independent financial advisor.

She commented: "With interest rates at an all time low, now is a better time than ever to action."

Ms Barrett went on to say: "Seeking independent financial advice will make sure you are making the right choices on your finances."

Towards the end of last year, the expert noted that savers may also be struggling to respond to the low interest environment that has existed in the UK for a number of months.

Posted by Martin Peacock.