How,Redundancy,Can,Lead,Debt,K finance, share, loan How Redundancy Can Lead to Debt
Date:2020-12-25 How,Redundancy,Can,Lead,Debt,K finance
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
Keeping Your Head Above Water When You
Lose Your Job
Being
made redundant is never easy and it comes with a whole host of dilemmas from
whether youll be able to find another job to how youre going to cope
financially. A recent survey by Yorkshire Building Society found that over a
third of adults in the UK could only survive financially for 11 days if they
lost their job or were too ill to work and the average person could last around
52 days before reaching a financial crisis point.( (What are the main
warning signs that redundancy could be taking you down the road to debt and despair?
Lack of savings Redundancies often come
out of the blue and as such are very difficult to plan for. If your employer
has just been taken over by another company or lost a major contract then not
having a nest egg or big redundancy payout could make the financial impact of
losing your job even more severe.
Trouble finding a new job If youve been
made redundant and have built up skills and experience in a certain line of
work then it may be difficult to find a similar job in your area or to find the
money to re-train and learn something new.
Borrowing just to get by Being out of
work for a while after redundancy will undoubtedly impact on your day to day
life and your ability to pay the bills on time. The worst thing you can do in
this situation is to borrow from Peter to pay Paul as this will quickly lead to
the interest and repayments becoming unmanageable.
Hoping that something will turn up
Realising that youre beginning to fall behind on repayments and get into debt is one thing but its another to be
able to admit it. Too many people bury their heads in the sand when it comes to
dealing with debt and before they know
it their level of debt has spiralled
out of control. Taking decisive action at the first sign of debt problems could save
you a lot of stress and misery in the long run.
No motivation Theres no doubt that debt can be depressing. A recent survey by
the mental health charity MIND showed that 91% of those surveyed thought debt had contributed to their mental
health problems. Feeling lethargic, helpless and depressed is another warning
sign that debt may be starting to
take control of your life.
If youve been made redundant and are
finding that your financial difficulties are beginning to mount up, then now is
the time to take action before they get even worse.
Call us free today
on 0800 043 4747 for professional debt advice
and an individual solution to tackle your debt problems. Dont let
redundancy drag you down because you could be debt free before you know it with our
help.
How,Redundancy,Can,Lead,Debt,K
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