Abacus Daily Debt News

January ‘the time to deal with debt problems’

Many people view the month of January as the time when they need to reassess their finances and come up with solutions for their debt problems.

At least this is the suggestion of Beccy Boden-Wilks of National Debtline, who told the Daily Mail the month will be a busy one for her charity and that it could set new records for the number of people ringing up to ask for advice.

Calls for debt help were at an all-time high throughout 2009, with 40,000 enquiries in January alone - double the number in 2008.

And Ms Boden-Wilks indicated that the trend could continue this year.

"Both January and February 2010 could be new records," she commented. "We’re advising people with concerns about coping with their debts to get in touch early and seek help."

As well as looking for debt advice, the new year could also see people saving more. Figures from NS&I show 27 per cent of the British population anticipate that they will put a greater amount of money away over the next 12 months than they did in 2009.

By Chris Trimble