Posts Tagged ‘windfalls’


Consumers shouldn’t rely on inheritance to clear debt

Saturday, July 30th, 2011

According to a recent report there are many people in the UK who have a lot of debt and who hope that getting some sort of inheritance at some point will help to sort out their debt problems. Many people try and keep things ticking over with regards to their debt payments in the hope that at some point a relation will leave them some money or assets that they can use to clear this debt.

However, officials have warned that those with debts need to stop relying on inheritance and windfalls to try and clear their debts, stating that many could end up being disappointed because they end up getting nothing. In fact, according to a recent survey a large number of people who leave wills actually leave more money to their pets and animals than they do to other people.

A survey was carried out by More Than and revealed that around 40 percent of people leave more money to their pets than they do to other people. The survey showed that 70 percent of people were worried about what would happen to their pets if they were to die and wanted to leave the money to ensure the long term care of their beloved animals so that they did not end up in a rescue centre.

An official from More Than said: “Pet owners are naturally concerned about the long-term care of their pets and many are taking the necessary steps to make sure they are provided for in their wills.”

This means that many of those that may have been expecting money from a relation who passes away could end up with far less than they imagined, which is why people are now being urged not to rely on this sort of income to deal with debt.

Tags: Pet owners, large number, long term care, Money, debts, Credit card

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