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Halifax addresses consumer debt worries

Paying the bills should be made top priority for people with serious debt worries, Halifax pointed out yesterday.

The comments were made in the wake off two reports suggesting that debt worries are increasingly affecting Britain's elderly.

Just over four in ten pensioners, who are generally locked in to fixed incomes, were found by Sainsbury's Bank to be "unable" to make any further savings.

Moreover, a joint study by Help The Aged and Barclaycard found that one quarter of Britons approaching retirement were in debt in 2005 - a four-fold increase over a decade before.

Commenting, Halifax spokesman Gareth Mackie said: "The advice is to keep on top of bills first of all because they’re the important things to pay, be it mortgage, rent, council tax or utility bills.

"If people are ever in financial difficulty [they should] speak to their providers and also another bank or building society."

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