Debt Advisers Direct is a trading style of Freeman Jones and part of the Think Money Group. We have over 15 years' experience helping people in debt and won numerous awards.
Consumers in Britain are increasingly prioritising debt repayment, new research suggests.
Conducted by Unbiased.co.uk, the study found that people repaid a combined total of £38.6 billion worth of non-mortgage debt last year.
This was said to more than cancel out all that consumers had borrowed in 2007 and 2008 and marks the first time in the site`s eight-year monitoring of such activity in which Britons paid off more debt than they took out in new borrowings.
It was also found that for every pound consumers saved last year, they paid off an average of 37 pence of debt.
Unbiased.co.uk chief executive David Elms said: "The financial turmoil which hit Britain last summer prompted a dramatic retreat from savings in favour of starting to pay down personal debt."
Recently, Jimmy Kelly, a spokesperson for first direct, suggested consumers could benefit from using their savings to pay down their mortgages, thereby reducing their levels of debt.
