11.6 million ‘struggling financially’

A quarter of the adult population – over 11 million people – are in financial trouble, according to a new survey carried out for insurance company Axa.

According to The Telegraph, 11.6 million people said that they were struggling financially. Of that number, around 1.3 million admitted that their finances were ‘entirely out of control’.

About 6.1 million people reported that they had no savings left at all, and 1.7 million said their investments had ‘all but disintegrated thanks to the credit crunch’.

A debt expert for Think Money said: “These statistics highlight the need for people to tackle their debts as soon as they can.

“There are a number of debt solutions that can help even people heavily in debt. In general, the sooner the debt problem is addressed, the better the borrower’s chance of tackling it.”

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Think Money offer a range of debt solutions, including debt management, debt consolidation loans and IVAs (Individual Voluntary Arrangements). If you are worried about your debt, contact one of our expert debt advisers today.

Tags: debt, debt problems, finance, financially, savings

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