PREPAID CARDS

Men Less Likely to Seek Debt Advice

Men have a lack of awareness over how to overcome their debt problems, a new report revealed.

The Centre for Research in Social Policy uncovered reasons why men are less likely to seek debt advice than women.

The males studied were reported as giving an over-optimistic assessment of their prospects for improving the situation, leaving them with an unrealistic view on the severity of their debt problem.

Other reasons included the males’ lack of awareness, understanding and inaccurate perceptions of what advice services offer.

“Our anecdotal evidence was that men might require a little more of a push to seek help in dealing with a debt problem and this research helps us to understand what might be behind this,” commented Joanna Elson OBE, the Money Advice Trust chief executive.

“Online tools might be particularly useful for men who are more likely to feel the need to ‘help themselves’ and to regain a measure of control of their finances.”

Preventing Debt with a Prepay Card UK

If you are in debt and have either sought debt advice, or are in the process of consolidating your debts, a good way to stay on top of your repayments is to use a prepay card UK.

A prepay card UK works by preventing the user spend more than they can afford on their everyday purchases.

This way those who have debt repayments to meet each month can be sure they have enough money to pay these off with.

Those with a bad credit history may also benefit from a prepay card UK, as anyone can apply for the card whether they have a bad credit rating or not.

This is because prepay card users cannot spend more than they loaded onto the card, and the card does not have an overdraft facility.

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