Conservative party reminds consumers about its financing advisory campaign

Thu, 04 Jan 2007

The Conservative party has sought to raise awareness of its debt advice campaign as the new year gets into full swing.

Traditionally, the festive period sees a glut of spending among consumers as expensive presents are exchanged, but January sees repayments due to start on a number of personal loans and secured loans.

Financial institution Grant Thornton estimated this week that there would be 30,000 personal insolvencies in the UK before the start of April.

At the end of last year, the Conservatives launched a new ad campaign with the tagline "beat the tosser", which is backed up by the financing advisory website sortit.co.uk.

Theresa Villiers, shadow chief secretary to the Treasury, explained the efforts it was making to help people struggling to repay personal loans.

"We have launched a campaign offering practical, independent advice and we are working with debt experts to develop solutions to help more people free themselves from the grip of indebtedness," she said.

Last year, a report from business research company Datamonitor found that total unsecured lending in the UK in 2005 amounted to £216 billion.

Meanwhile, total UK debt including mortgages apparently stood at £1.2 trillion.


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