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Consultation on debt management launched Govt aid for those struggling with mortgages `too late for some` Pensions `no problem` for IVAs UK reaping what it has sown in terms of personal debt, expert claims Struggling consumers `likely to default on TV subscriptions` Consumers `struggling to cope with mounting debt` Bankruptcy increases by 7% `More Brits applying for personal loans` 70% of Brits `without unsecured loans` Pre-paid cards `more popular as debt rises` IVAs `a real alternative` to bankruptcy Brits `trying to escape credit crunch` by moving abroad West Sussex consumers suffering debt IVA agreements increase Industry body welcomes IVA mailing probe OFT to target bogus IVA companies IVAs can be "helpful" for large debts IVAs - consumers warned about bogus deals Insolvency rates rising IVAs can be "better option" than bankruptcy

Struggling consumers `likely to default on TV subscriptions`

15/01/2009

Paid-for TV subscriptions are among the bills most likely to go unpaid by consumers who struggling with their personal finances - potentially including those with debt problems.

This is according to Direct Line, whose research found that 22 per cent of people surveyed believed it would be acceptable to default on such payments.

Meanwhile, mobile phone bills were identified by 16 per cent of consumers as a payment which they would not make if they were feeling the pinch, while eight per cent said they would shun payments on their credit cards.

This compares with one per cent who said they would avoid mortgage repayments and two per cent who said they would not meet personal loan repayments if they were struggling.

Recently, consumers with money problems were advised by David Black, principal consultant for banking at Defaqto, to manage their debts.

He said that taking advantage of falling interest rates and overpaying on monthly credit card and mortgage payments can help people reduce their debts more quickly.

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