Spending money on unused gym memberships
Posted by Sam Smith on 1st February 2012 to Debt News
Figures show that 77% of UK adults sign up for Gym memberships then fail to attend, with the average person wasting £303 per year totalling a massive £37 million waste by consumers on Gym memberships.
This could be due to the fact that many go on fad fitness regimes after Christmas and are constantly putting off their gym time or the fact that many are unable to cancel their gym membership subscriptions due to company cancellation policy of their chosen gym – the OFT reports that in the four months up to Dec 2011 it had 1500 complaints regarding gym membership cancellation policies.
The latter has led to the OFT launching an investigation into Gym company policies in order to outline whether their cancellation policies are fair to the consumer should their circumstances change. Changes may be due to a number of circumstances, one being loss of income due to redundancy or job loss which may mean the consumer can realistically no longer afford the gym membership on top of all their other priority monthly payments.
It was in recent news that a woman was unable to cancel her subscription with LA Fitness even though she advised the company of her change in circumstances when she became pregnant and her husband had been made redundant - a situation in which led them vulnerable to debt problems.
Sam Smith
DFH Financial Solutions offer a range of debt solutions tailored to your individual circumstances. These include IVA, Debt Management Plans & Debt Consolidation Loans. If you are worried about debt, contact of our train debt advisor's today.
This could be due to the fact that many go on fad fitness regimes after Christmas and are constantly putting off their gym time or the fact that many are unable to cancel their gym membership subscriptions due to company cancellation policy of their chosen gym – the OFT reports that in the four months up to Dec 2011 it had 1500 complaints regarding gym membership cancellation policies.
The latter has led to the OFT launching an investigation into Gym company policies in order to outline whether their cancellation policies are fair to the consumer should their circumstances change. Changes may be due to a number of circumstances, one being loss of income due to redundancy or job loss which may mean the consumer can realistically no longer afford the gym membership on top of all their other priority monthly payments.
It was in recent news that a woman was unable to cancel her subscription with LA Fitness even though she advised the company of her change in circumstances when she became pregnant and her husband had been made redundant - a situation in which led them vulnerable to debt problems.
Sam Smith
DFH Financial Solutions offer a range of debt solutions tailored to your individual circumstances. These include IVA, Debt Management Plans & Debt Consolidation Loans. If you are worried about debt, contact of our train debt advisor's today.
