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PPI Claim News - 4/3/2010

 
Credit Card Reclaim: Debt causes 'financially excluded' generation

Rising consumer debts and recession-fuelled poverty have created a generation of the "financially excluded", according to Citizens Advice.

Speaking at the Northern Money Conference 2010 at the Contemporary Urban Centre (CUC) in Liverpool, Teresa Perchard, director of policy, said that it is "unrealistic" to expect Britain to be debt-free within the next five years, as suggested by the government.

She said that rising bills have led many more people into debt, while pensioner and fuel poverty have "grown almost uncontrollably" in recent years.

"The recession is causing a new group of consumers who join the financially excluded," she commented.

"We go into the next five years carrying a huge amount of debt – not just the national debt, but individuals' lending is still very great. We need to look to a better policy framework than we have had."

Her remarks come after figures from Credit Action showed UK personal debt, including that on credit cards, rose to £1,463 billion in January, an increase of 0.8 per cent in the last 12 months.

Belmont Thornton can help you make a PPI claim – Payment Protection Insurance Claim, or a credit card charges claim. For free PPI Claim advice call 0845 526 0000 or fill in the Quick Claim box to be sent a PPI Claim pack or credit card charges claim pack. ADNFCR-2776-ID-19650337-ADNFCR



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