Debt Management made easier after no increase in interest rates.

Online, January 11, 2010 (Newswire.com) - There is good news for the debtors who are fighting with debt management. People struggling with this problem will be happy to know that interest rates are not going to be increased. The bank of England has recently announced that the official bank rates which are 0.5 per cent will remain same for next ten months.

According to International foreign exchange and payments organisation Travelex "it is widely expected that the interest rates will remain same until the beginning of 2011".

According to the head of UK trading desk at Travelex Mark Bolsom growing mortgage repayments while redundancy remained high would be "disastrous" for UK consumers.

This percentage of interest rates will be constant till the Bank of England doesn't find that banks are lending more regularly. New status shows that including mortgages the average amount owed by every UK adult is £30,226. This equates to 133 per cent of standard earnings in UK.

The program of debt management is going to be simpler and one can manage it through financial planner. unbiased.co.uk is offering professional advise and it has launched new financial calendar tool, encouraging people to get back on the financial track with timely payments. This calendar can modify anytime. According to Karen Barrett chief executive of Unbiased.co.uk, "The new financial calendar gives consumers an easy to use tool to plan their finances and keep all of their financial dates in one place".

New figures from Credit Action represent that total UK personal debt at the end of November remains at £1,459 billion. This report also shows that 1,000 people search for some form of formal debt rescheduling plan every day.