Friday 7th September 2007
Switching finances from existing products to those which carry more favourable interest rates could save money, Britons are told.
Picture Financial marketing director Julia Dallimore makes the comments in response to figures from debt management firm Chiltern which show two-thirds of debt-ridden consumers are in denial about the amount they owe.
Ms Dallimore states that "1.8 million of us never review or sort our finances, yet 42 per cent worry that they are not getting the best deal".
"Switching to credit providers with more favourable rates or seeking independent advice are all ways we can significantly reduce our monthly repayments," she adds.
Men are more likely to be heavily indebted but are also more willing than women to admit they are facing financial hardship, Chiltern notes.
Statistically, a 35 to 44-year-old living in East Anglia is the most likely to have money troubles which they are in denial about, according to the survey.
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