10 March 2008
An average, Britons will have to work for 70 days in order to collect enough money to pay of the interest on their credit card bills, Unbaised.co.uk has claimed.
The firm labelled March 10th Debt Freedom Day and noted that it is the last date that people will return the interest.
According to the organisation, the day has slipped back in the year, as it fell on Febraury 1st in 2007, caused by a 10% rise in personal debt.
Chief Executive at Unbiased.co.uk David Elms argued that the date is a "warning" for consumers in the UK and that financial knowledge is more important than ever.
"In the current economic climate is has never been more important for people to realise just how much it costs to service their debts and to ensure they have adequate funds available to do so," he commented.
Last week, Christians Against Poverty claimed that 71% of people in debt in the Salisbury area are worried about repossession due to money they owe.
© 2008 Adfero Ltd
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