People in debt ‘ask banks for help, not charities’

People facing financial difficulty are six-times more likely to approach banks for help than they are charities, according to a new survey.

The research published by Turn2Us, which helps people in financial need, found that 25 per cent of respondents said they would borrow from banks, whereas only 4 per cent said they would seek help from charitable sources.

Fifteen per cent of the sample of more than 2,000 people surveyed by YouGov in October said they would use store or credit cards, 36 per cent would try to access welfare benefits and 14 per cent said there was nowhere they would be able to get money from.

Jolanta Lasota, chief executive of Turn2Us, said the results of the survey were worrying.

"People need to be aware of all the sources of financial help available to them when they are experiencing problems so that they are equipped to make the right decisions to tackle their immediate crisis and ensure their long-term financial health," she said.

The survey found that the internet and independent advice agencies were the most popular routes people would use to look for information on sources of money.

In response to the survey's results, Turn2Us announced it was expanding its online service to include new information and tools to help people looking for financial aid.

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