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Church to offer financial advice

January 8, 2008 by admin  
Filed under News, News-Banking

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The Church of England (CoE) has announced it is to launch a ‘Matter of Life and Debt’ campaign in the face of spiraling levels of personal debt in the UK.

With the UK owing a total of £1,400 billion in loans, credit cards, and overdrafts, advice is to come from both the pulpit and community groups.

The campaign incorporates a ten point checklist, to be viewed as a set of warning signs that show consumers maybe spending more than they could afford.

John Preston of the CoE, said: “If a household can say ‘yes’ to any of the statements on the checklist, it may be on the verge of encountering serious debt issues.”

He added that if a household can say ‘yes’ to three or more of the warning signs, “it would be well advised to talk to a debt counseling service.”

Research from Grant Thornton has predicted that 120,000 consumers are expected to be declared insolvent during the course of 2008.

Tags: Warning sign, debt issues."He, debt counseling service."Research, Loans, matter, personal finance, debt issues, life and debt

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