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Consumers 'must tackle debt problems'

Consumers 'must tackle debt problems'

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Consumers must ensure they deal with the state of their finances if they are worried about debt problems, a personal finance writer has advised.

Cliff D'Arcy urged those burdened with debt to address their financial problems sooner rather than later, stating: "The earlier you tackle it, the better it will be.

"Don't just bury your head in the sand and hope the problem goes away, get in touch with your bank."

Furthermore, Mr D'Arcy advised credit card users to contact their lenders if they are struggling to cope with the repayments on the plastic loan.

He added that 22 per cent of credit card users across the UK are struggling with their monthly repayments.

There are also free debt counselling charities available to those who may be depressed by their financial situation, Mr D'Arcy concluded.

According to research by Monilink, 21 per cent of Britons would prefer to treat themselves to something nice rather than save money each month.

Your home may be repossessed if you do not keep up repayments on your mortgage.

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