'Clueless Brits' in need of debt elimination

Millions of Brits are turning a blind eye to their debt problems and many are now in desperate need of assistance with debt elimination.

Research from Unbiased.co.uk suggests that 2.5 million people have no idea about the extent of their debt crisis.

Another 15.4 million admit that they cannot quantify their debt within £100, which suggests many are refusing to face up to their arrears.

Of those aged 18 to 24, 41 per cent are unable to quantify their debt within $500, highlighting the extent to which today's school and university leavers are in need of expert assistance with debt elimination.

David Elms, chief executive of Unbiased.co.uk, said: "This research shows how little the UK consumer is budgeting and preparing for every eventuality. 'Generation Spend' is allowing debt to dictate behaviour, rather than taking financial control and keeping a check on debts."

For many, problems with debt could be alleviated with better credit card deals, debt consolidation loans and competitive secured loans for homeowners.

Debt consolidation, in particular, allows those who have taken their eye off the ball to regain some degree of control over their personal finances. Debt elimination can then allow them to make steady progress, free from the burden of excessive debt.

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