Consumers 'need more support' to manage debts

Consumers who are finding it difficult to manage their debts should be offered a greater level of support in the coming months, it is felt by one expert.

Those who get credit can sometimes find that it turns into "an expensive habit", Chris Cummings of the Association of Independent Financial Advisers (AIFA) has remarked.

While pointing out that "credit has a role to play", Mr Cummings, the AIFA's director general, added that "we need to help people better manage their debts".

This is one area that the new Conservative and Liberal Democrat coalition government should seek to prioritise, according to the expert.

Prudence is a quality that the country's consumers will need to rediscover, he continued.

Those who are struggling with debt problems might be able to take advantage of the online advice which is offered by the Consumer Credit Counselling Service, with the organisation recently stressing that it protects people's identities.

Posted by Gemma Walker.