CCR Magazine

Only one in three householders would consider cutting their satellite TV if they had severe debt problems according to a study commissioned by a leading debt management company.

The nationwide report was carried out by research specialists GfK NOP and commissioned by Debt Advisory Line, which was recently awarded the title of ‘Debt Management Provider of the Year’ at the Insolvency and Rescue Awards,

The report, which polled 1000 adults, found that only 34% of respondents said they would consider cutting their satellite or Sky TV if they had to devise budgeting restrictions as a result of severe debt problems.  Surprisingly however, women were less likely than men to want to sack satellite to stay out of the red. Only 29% of female respondents said they would be prepared to give satellite the chop whilst 38% of men said they would give it due consideration.

Those in Scotland and South West were the least likely to give up their satellite TV (26%) whilst Welsh respondents were happiest to send satellite packing with almost half willing to give up Sky for the sake of staying in the black.  But it’s those in the south who want to hang on to their satellite for longer. Only 30% of southerners would be happy to see Sky go compared with 34% in the North!

Conversely, those in the north would prefer to hang on to their precious gym memberships with only 14% of northerners prepared to lose their regular gym workout!

Leading debt management company, Debt Advisory Line, commissioned the nationwide survey as part of its ongoing research into customer spending habits. Mike Ransom of Debt Advisory Line explained how information from the report will help the company to advise debt ridden customers. He said: “Whilst we encourage people to stay in rather than regularly going out spending their hard earned cash at pricey venues, we would advise that our customers definitely consider cutting out luxuries like satellite TV as many just don’t appreciate how much they are spending on this type of entertainment every month. If you have debt problems, it’s crucial to look at all aspects of your lifestyle and adapt accordingly in order to keep up with regular direct debits and overdue credit card or loan repayments. 

“The results of this study help our staff appreciate how different people have different priorities and just how difficult it is to make these sacrifices.” 

Anyone affected by debt can call Debt Advisory Line’s helpline on 0800 157 7254. The company’s advisors don’t charge for help and advice unless a specific debt management plan is agreed and created for you.

(Source - Debt Advisory Line Press Release)