Hunts: Downturn bottomed out but personal debt still high

The economic downturn seems to have bottomed out, but `the personal debt crisis may still have a long way to go`, The Hunts Post reports.

Mr. Djanogly, Huntingdon MP, said that the recession had affected different areas of the country in different ways: in places such as London, for example, people from `all walks of life` were affected, while in his community, people with low incomes were affected more.

Although the local economy had stabilised, he noted, personal debt was still getting worse: "It has not yet bottomed, and people are very worried about their personal and family circumstances."

He went on to say that although there was a common consensus that the worst may be over for business, it didn`t necessarily mean that "things are good or that there are green shoots popping up all over the place."

A spokesperson for debt management company Gregory Pennington said: "Although there are signs that the economy is starting to recover, people should still keep a very close eye on their finances.

"Anyone who can`t keep on top of their repayments should seek professional debt advice as soon as possible."

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