‘Credit Crunch’ has been one of the buzz words of the summer and one that we cannot escape from. The credit crunch has had a knock on effect which has barged into most of our lives in some form, such as rising household bills.
The Prudential believes that the credit crunch is one of the greatest concerns for the average Brit today. Keith Haggart Prudential director of lifetime mortgages, agrees that the main worries for the “vast majority” of people revolve around their debt and finances, such as petrol costs and fuel bills.
However many also claimed that, although they had financial worries, these were not directly impacted by the credit crunch. Haggart explains: “They say that it doesn’t affect them but when you start talking about the prices, they are very worried about it.”
Worried About the Credit Crunch?
The ongoing credit crunch has left many people struggling with their debt levels. If money was tight before, you may find it even harder to keep your outgoings low.We can offer you free debt advice for those who are struggling with their debt. If you are struggling to make payments to your unsecured debt then you might benefit from a debt management plan. A debt management plan can reduce your outgoings to creditors, leaving you with one lower monthly payment.