Consumers should think about paying off their
President of the Business Recovery Professionals (R3) Peter Sargent welcomed the news in Credit Action’s recent survey that overall UK consumer debt has fallen.
However, he noted, the picture is “mixed”, with a widespread tendency of consumers to concentrate on paying off
This prioritisation amounts to a flawed financial strategy, he argued, stating: “People are borrowing on their
Consumers should always seek to pay off the higher interest rates first, he commented.
People keen to manage their
The average UK household owed £9,226 excluding