Latest Debt News
People waiting for inheritance that never comes
30/05/2008 17:51:00
Many people in the UK are holding out for financial help which may never arrive, according to one company.
Engage Mutual Assurance has reported that many people think they will receive a windfall in inheritance, but this may never materialise.
Half of all people in the survey said they expect the windfall to come and that it would help their financial situation.
Over ten per cent of people said they will not be able to own a property unless they inherit some money, with almost a quarter saying it would mean they could pay off their mortgage.
However, the reality differs from people's expectations as previous research from Engage Mutual revealed that 54 per cent of retirees are struggling to pay their bills and 7,900 were declared bankrupt last year.
Other research this week from Egg.com revealed only half of people in the UK would be able to deal with a financial emergency with savings alone.
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