Secured loans could aid "sleepless nights"
06/03/2008A new survey has suggested that UK consumers spend two years of their life worrying about debt - stress that could be alleviated with a secured loan.
The study, put together by The Co-Operative Bank, revealed that the British population as a whole spend around 13 billion hours each year worrying about how they are going to repay debts such as high interest credit cards and loans.
Commenting on the research, savings product manager at the bank Scott McPhail said that the figure was concerning and added it was "never too late" for people to "regain control" of spiralling debt.
"It is worryingly clear from the research that the vast majority of UK adults are deeply concerned about their finances, with rising levels of debt and inadequate saving provisions responsible for countless sleepless nights nationwide," he said.
Recent research from financial advice charity Credit Action revealed that the average debt of UK households was around £56,708.
 © Adfero Ltd
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