Don,Let,Debt,Get,You,Down,Know finance, share, loan Dont Let Debt Get You Down! Knowing When to Get Help
Thankfully, there are now several web sites that are there to help people like you with bad credit to find the fast personal loans that you need. When you have bad credit, the first thing that you should be looking for is a loan company that If your financial problems have reached the point where you do not see a way out and you feel as though you are drowning in debt, your best way out is through declaring bankruptcy. Filing may well allow you to get your finances back on track
In 2007, 400,000 people entered into Debt Management plans or IVAs and this number is expected to rise sharply during 2008. UK personal unsecured debt currently stands at £25 billion. In Jan 2008 consumers spent £2.4 billion on credit cards. Around 1 million people in the UK have debts of £25,000. Total UK consumer debt stands at £1.4 trillion. 5 million people spend more than they earn on a monthly basis UK debt rises £1 million every 5 minutesPast ease of availability of credit has compounded the issue and the recent changes in the economy have left 100,000s with little chance of being able to meet their monthly financial commitments. In a recent survey 1 in 5 UK adults spend more per month then they earn on a regular basis. As personal debt grows, so does the worry, stress and anxiety which can lead to illness, relationship breakdown and depression.Many people we speak to have left it late before contacting us, choosing initially to ignore the problem, hoping it will go away or they come into some unexpected income that will relieve the pressure. Few do and eventually they are forced to take action. The irony of the situation is that the earlier you take action about your debts, the more effective the solution can be. What is a debt problem?Debt becomes a problem when you cant meet the agreed payments on that debt or you are borrowing more money to pay off existing debts often referred to as robbing Peter to pay Paul. How do people get into Debt?There are lots of reasons that people get into debt. The availability of easy credit has help most people get into a situation of large unsecured loans and credit which can build and build over time or a single event can trigger debt problems including; Redundancy/loss of income .i.e. reduction in overtime, health problems Parenthood Large unforeseen expense Growing cost of living Relationship breakupHow do I know Ive got a debt problem or heading for one? You are borrowing more and more every month Youve started to miss monthly payments You have unsecured debts that are greater than 6 month take home salary Youre paying bills using credit from other sources Youre being chased by creditors, perhaps ignoring the phone or not opening letters Your health and happiness is reducing through worry and stress relating to money and/or paying billsTake a deep breath and relax. Help is at hand ..The first thing to do is face the problem and seek help. This is probably the single hardest step that most of our clients go through. Usually because they believe that theyll be judged for getting into debt. This simply isnt the case. We care more about getting you out of debt and that you want to get out of debt then how you got in debt in the first place. We will help you reorganise your finances and payments. Well step between you and your creditors, meaning that you wont have to deal directly with them anymore if you dont wish to and well also advise you on how not to slip back into financial problems again.
Don,Let,Debt,Get,You,Down,Know