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Debtors should look for Car Insurance savings

Thu, 12 Jan 2006

Consumers are being urged to take the "debt test" and make savings on products such as Car Insurance to help reduce their outgoings.

A new online test, launched by the Financial Services Authority (FSA), the BBC and credit rating agency Experian, is hoping to encourage consumers identify when they are letting their borrowing get out of hand.

The debt quiz will enable people to access further information on how to avoid future debt and how to seek help with their current debt levels.

"Managing debt effectively is one of the most important things any of us have to do to keep control over our finances," said Vernon Everitt, the FSA’s director of retail.

"The debt test is a useful tool to help consumers gain a fast overview of their borrowing, avoid debt becoming problematic and sort out what to do if it is already causing concern," he added.

One way for consumers to reduce their debt is to cut their spending on products such as Car Insurance by seeking out the best deal – leaving excess cash to help meet loan and credit card repayments.


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Endsleigh Insurance Services Limited is authorised and regulated by the Financial Services Authority. This can be checked on the FSA Register by visiting its web site at www.fsa.gov.uk/register.
Endsleigh Insurance Services Limited. Company No: 856706 registered in England at Shurdington Road, Cheltenham Spa, Gloucestershire GL51 4UE.