Lack of internet access as stressful as no electricity, finds DAC survey
Both of these rank higher than getting a county court judgement, despite the fact that the latter could have a more profound impact on the ability to borrow in the long term.
In general, financial difficulties with an embarrassment factor rank higher – being embarrassed while out shopping because a card is declined or a cash machine refuses to pay out ranks highly. More than two-thirds of people surveyed were concerned about losing face in public.
Having their card declined in store fills more people with fear than the thought of being rejected for credit. More than half (54 per cent) said they also felt worried going overdrawn.
Ian Williams, spokesman for DAC, says: “It’s not just emotional difficulties like the end of a relationship or the death of a loved one that can pile on the stress, but also financial worries. At this time of year, that may be even more the case as many people find themselves forking out more than they usually would so they can cover all the costs of Christmas.
“Having a card declined while paying for presents or not being able to take out more cash may be warning signs that your finances are being over-stretched. Rather than ignoring this, it may be worth seeking advice as soon as possible so you can get on top of the situation. That way, you may have more of a chance of avoiding a financial nightmare when the New Year arrives.”