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Thinking positive helps you deal with your debt

03 May 2007

Thinking positive helps you deal with your debt More young people are adopting a positive attitude towards their debts, according to one expert.

Young professionals are facing higher levels of student debt than ever before.

However, James Falla, managing director of debt consultancy Thomas Charles, maintains that their positive attitudes mean they are less likely to get into financial difficulty at an early stage.

Mr Falla said: "The attitude of younger people is more positive. They say: 'Well, I do have debt, but I’ve got my career ahead of me. I do believe that things are going to get better, I do believe I’m going to get a promotions or I'm going to be earning more money."

Evidence suggests that young professionals in financial difficulty usually prefer to work their way out of their debts rather than try to declare themselves insolvent

The good educational backgrounds of graduates seem to give them confidence that their future career will relieve their financial problems.

Students graduating from university typically have debts of around £15,000.

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