Debt Charity Launches Online Debt Analyser Tool

Fri, 04 Dec 2009

A new online debt-help tool has been launched by debt charity Debt Advice Foundation to help consumers calculate, review and manage their debt .

The group’s Debt Analyser tool helps people understand how much money they owe, what they can realistically afford to pay back and how long it will take them to repay the debt in full.

It can also produce a statement of affairs and individual creditor letters for those who wish to negotiate directly with their creditors .

David Rodger, Managing Director of Debt Advice Foundation, said: "This downloadable resource is a new way for people, who may have never before have needed to worry about their mortgage payments, credit card borrowings, hire purchase deals and other loan payments, to take stock of their situation for the first time."

"Seventeen million people - almost half of the adults in the UK have difficulty with numbers so it’s no surprise that people struggle to keep track of their debts," he added.

"We are not looking to replace the vital telephone support that charities like ours provide, but to assist as many people as possible to understand the full extent of their financial problems ."

The Debt Analyser tool is available to download for free at Debtadvicefoundation.org. Users of the service can also make use of free phone support and guidance from a member of the Debt Advice Foundation .
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