Lamport Bassitt Solicitors - Legal News - Half of Brits 'concerned by debts'


	LATEST LATEST LEGAL NEWS ARCHIVE		LATEST NEWS & EVENTS Half of Brits 'concerned by debts' Nearly half of individuals (47 per cent) are concerned by their debts, according to the corporate and personal insolvency trade body R3. The figures, which show a seven per cent rise in people worried about their finances, indicate many may need to seek help from an insolvency lawyer. Credit card debt continues to dominate fears for 53 per cent of individuals, an increase of five per cent on last quarter. Concerns about payday or other short term loans, hire purchase and store cards have also risen. R3 president Frances Coulson explained that some householders who are struggling to find credit via traditional lenders are turning to short-term solutions. However, these people "should be wary of the high interest rates that often accompany these products", she warned, adding: "Overall debt can quickly snowball out of control." The news comes as R3 reports that 47 per cent of people believe that debt and financial worries contributed to the recent riots in England. Posted by Georgina Price Related Articles: 16/5/2012 - Falls from height remain major workplace safety concern 14/5/2012 - Construction firm fined after worker is injured in roof fall 10/5/2012 - Focus on health and safety delivers business benefits 1/5/2012 - Asbestos danger leads to fine for Dorset builder 30/4/2012 - Shipyard operator fined over scaffolding accident at work More Personal Injury Law News