Relief Debt Systems

Figures from the FLA (Finance & Leasing Association) have revealed that the amount of debt consumers are taking on has decreased.

However, although it`s `down by almost 11 billion on last year`, the consumer credit market does seem to have stabilised.

The data showed that in the 12 months to July 2009, `new business written by FLA members` (including secured and unsecured loans, credit and store cards and motor finance) fell by 17%.

In particular, the figures highlighted the fact that the `lack of affordable wholesale credit` has made it very hard for people to secure debt against their home, with lending in this area down 83% in the last three-month period alone.

A spokesperson for Debt Advisers Direct commented: “It is encouraging to see that people are taking on less debt. Still, it`s important to recognise that credit can be extremely useful – when used wisely, it can allow people to do things they wouldn`t normally be able to.

“Many people, however, find that their debt has become unmanageable. Anyone in this situation should contact a professional debt adviser without delay.”



Debt Advisers Direct offer free debt advice and a range of debt solutions, including debt management plans, debt consolidation loans and IVAs (Individual Voluntary Arrangements).

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