Debt: Perception versus Reality
We recently ran a survey asking you to tell us what your perceptions of debt are. We asked you seven questions: Would you expect more women or men to have a debt problem, In terms of housing status, would you expect people with a debt problem to be, Would you expect the marital status of most people with a debt problem to be, Which region of the UK would you expect the highest percentage of people with debt problems? Pick the top three, What would you expect the average monthly income of an individual with a debt problem, What would you expect the total amount of unsecured debt of individuals in a debt management plan to be, How many years on average do you think it would take an individual in a debt management plan to clear their debt?
The aim of the survey was for us to gauge what people’s perceptions of debt are. It is usually the case that people’s perceptions are a lot different to the reality, this survey turned out to show exactly that.
The infographic below shows us what the public’s perceptions of debt are and how this sits in comparison to the reality, the reality being our clients based on those that called us between March 2010 and March 2011 who entered into either a Debt Management Plan or Individual Voluntary Arrangement (IVA). It is very clear to see that reality of debt is far from the thoughts of many people.
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Regardless of your reality, Payplan are still at the end of the telephone if you would like to speak to an expert debt specialist.