Caravan Insurance

Anyone thinking of borrowing money in order to finance a caravan trip ought to first listen to what two specialists have had to say on the issue of Britain's debt problem.

In a recent debate on the issue, Liberal Democrat shadow chancellor Dr Vincent Cable warned that, while only one in ten people are currently struggling with the amounts they owe, this is still a significant proportion and could feasibly grow over the next few years.

UK Caravan Insurance

Debt consultant James Falla upheld this opinion and claimed that the only solution is to improve the knowledge of Britons on the matter of debt, so as to ensure that they themselves do not borrow more than they can afford to pay off.

He warned: "The number one issue on my mind is that there needs to be an increase in public awareness of how easy it is to get into debt and the difficulties people face if they do get into serious debt which they can't pay."

Last summer, a report by moneysupermarket.com showed that nearly three out of five Brits used their credit cards to help fund their holidays, paying out £800 in this way on average and as a result running the risk of sinking deep into arrears.

Caravanning is one of the UK's most popular forms of tourism, with an estimated two million trips taken every year, but enthusiasts need to heed the advice of Dr Cable and Mr Falla and ensure they only take holidays when they are sure that they can afford to.

Breaking news provided by onequote direct - specialists in UK Caravan Insurance.

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