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Personal budget sheets 'could help struggling debtors'
People with debt problems might benefit from the use of personal budget sheets, it has been suggested, in a development which may interest those with personal loans payments to meet.
According to the Money Advice Trust's head of research and policy Louisa Parker, such sheets may provide consumers with a potential alternative to bankruptcy.
She stated: "Many people are able to agree a repayment arrangement with creditors once they have completed a detailed itemised personal budget sheet with the help of a money adviser."
Debt relief orders are among the other options that debtors might also be able to consider if their financial situations are not particularly positive, Ms Parker believes.
Such orders can be adopted by those who have few assets and debts which are lower than £15,000, the expert noted.
Meanwhile, the trust's chief executive Joanna Elson recently discussed the topic of fuel poverty, which she suggests members of the public have become more aware of recently.