Online debt collection

Author: Sav DSouza

A survey has revealed that the biggest fear for young people today in the UK is debt.

48 % of the 1,220 people, with ages ranging from 16 to 25, said that debt was the thing that made them most anxious about for the future.

The Youth Future Fears UK survey was commissioned by Community Service Volunteers and conducted as part of the Agents4Change campaign, which has received £1m of public and private sector money to deliver a project that encourages young people into community volunteering. The campaign is supported by Tesco and the youth volunteering charity v.

Author: Mark Dawson

Britain’s financial optimism has plummeted, according to a recent set of figures.

GfK NOP’s latest consumer confidence index revealed a drop of five points with regard to the country’s outlook on the current monetary climate to stand at -24. Such a figure is the lowest recorded since November 1992. Furthermore the current overall level of economic optimism was shown to be down by 18 points from the same period this time last year, with decreases noted across all five of the firm’s measures which make up the index.

Author: Phil

An estimated one million people in the UK have ‘problem’ unsecured debts according to a report entitled UK Debt Problems – consumer crisis or efficient market? Published by debt management solutions firm, TDX Group, the findings showed that these arrears totalled up to £25 billion, which equates to an average of £25,000 for each of these identified borrowers.

The report also suggested that the number of people facing financial uncertainty looks set to double during 2008 as firms tighten their lending ability resulting in a reduction in options for borrowers to re-finance their expenditures.

Author: Steve Smith

The current financial climate is causing concern for more than just the nation’s adults, according to new research.

In a study carried out by Abbey Banking, it was revealed that a significant proportion of young people between the ages of 11 and 15 are worried about their ability to manage their finances as they get older. Around one in five of those questioned claimed to be worried that they will get into debt and be poor in later life. Research from the financial services firm also unveiled that boys are most likely to have concerns over monetary matters, with just over a quarter (27 per cent) of males having anxieties about future debts. In comparison, just 16 per cent of girls hold these worries.