Print friendly version 18 Sep 2008

Borrowers go online for debt advice

Consumers searching the Internet for debt advice owe an average of £20,000, according to recent research.

Figures from LeadPoint, a firm that provides mortgage brokers and financial advisers with details of consumers looking for financial advice, show that the average amount of debt for those going online for specialist advice is £22,365. Such borrowers also owe money to four different organisations (or creditors) on average.

Justin Rees, head of marketing at Leadpoint, said an increasing number of consumers were using the Internet to look for debt advice. As the economy worsens, he believes this trend will continue.

For more information on debt advice, see the November/December 2008 issue of Your Mortgage’s sister title, Your Money, on sale in October.

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