Posts Tagged ‘Debt Management’

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Energy Prices Skyrocket For 1.2 Million Customers

Wednesday, September 8th, 2010

From October, electricity prices will rise by 2.6% for 1.2 million customers as gas and electricity giant EDF Energy are hiking up their prices.

The increase, which is due to commence on 1st October 2010 will affect customers in 11 out of 14 energy regions across the country. This means the average household electricity bill will rise from £429 to £438 per year, and the average dual fuel bill being provided by EDF will increase from £1,159 to £1,167.

This will add to the financial strain and could result in further household debt, as many people are already struggling to keep up with monthly commitments.

EDF Energy said that a rise in distribution and transmission costs were to blame for the price hike and announced they would be writing to each affected household to explain the increase in fuel costs.

It was only in July that Ofgem announced its plans to investigate two different energy suppliers for not adhering to their pricing regulations, which prohibits energy firms adjusting prices for gas and electricity throughout different parts of the country.   

Despite Ofgem refusing to disclose which two companies were being investigated, suspicions have fallen on EDF for some time. It is unlikely EDF will be gaining any new customers after this revelation, at a time when everyone in the country is trying to save money wherever possible.

The best thing customers can do at the moment is shop around for the best energy deals. With approximately £11 extra being added to EDF’s standard tariff, many people could find a better deal. Although the wholesale price of gas and electricity remain fairly low, additional overheads are rising, causing the higher prices for fuel.

 Despite many people’s concerns that all suppliers will raise their prices, it hasn’t happened yet, so there are still plenty of fixed price deals and lower rates to be taken advantage of with alternative suppliers.  No doubt a lot of EDF’s customers will feel great disappointment at their higher cost energy bills and will seek power from elsewhere.

 If you or someone you know has gas and electricity arrears that are proving difficult to pay off, Sterling Green can help. We deal with a variety of debts including utility bills from previous providers or properties, credit card debts, personal loans and catalogue arrears. We work to negotiate an affordable sum to pay toward your debt each month. This sum can work around your personal circumstances and is flexible

 If you feel you cannot keep up with your credit commitments, we can talk to the people you owe money to, and agree a lower payment with all interest and charges stopped against your accounts.

 This debt management plan does not affect your mortgage or Hire Purchase agreements and is not legally binding like an Individual Voluntary Arrangement.

 For more information please call us on 0800 083 2827 to speak to one of our friendly advisers.

Posted by Katie Simpson ©

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Posted in Debt Management, News & Features | No Comments »

Debt Collection Firms See 30% Drop In Business

Wednesday, August 25th, 2010

According to astonishing recent news, debt collection firms have seen a significant decline in business since the beginning of the credit crunch. Figures show they have experienced between a 25% and a 30% drop in business over the last few years.

Most people would think that bailiffs would have benefited from the economic downturn, but with increasing numbers of people being made redundant, many people are keeping a close eye on their outgoings.

In a shocking revelation, the head of one of Britain’s leading debt recovery organisations, bailiffs have been unlikely victims of the recession.

Jamie Waller, founder and managing director of JBW Group, said that their lack of business at the moment is due to people being more financially conscious and seeking advice on their debts before their situation becomes serious.

He told the Daily Mail newspaper: “People are taking a more careful approach to their finances since the recession started. It’s had the reverse effect, which has left many bailiff companies overstaffed.”

The Enforcement Services Association, the bailiff trade body, confirmed that the recession was affecting their business, stating that the volume of debt referred for collection has dropped 10% compared to last year’s figures.

With the state of the current economy, debt is discussed much more often and people do not feel the need to conceal their struggle or brush financial problems under the carpet. The more publicity the credit crunch receives, the more likely people are to admit they are having financial difficulty. Thus meaning, they are more likely to seek advice and assistance with those problems before debt collection agencies have a chance to knock at their doors.

Confirming that consumers have become more finance conscious, Waller added: “We are now seeing that 60% are paying up after receiving only a letter.”

In past years, many people who had credit would wait for a final notice before making a contribution toward their debt, but now people are worried for their future. Many people fear for their jobs as redundancy is rife, and do not want to make any hasty decisions when it comes to borrowing money. The recession has caused people to think twice about accumulating debts that they cannot repay.

Recent figures also show that more bailiffs are dealing with debts   over the telephone instead of turning up on debtors’ doorsteps. This is likely due to lenders being more relaxed about calling in money owed to them. Also another factor is that the Bank Of England Base Rate is at an all-time low of 0.5%, meaning less people are falling behind on their mortgage payments. This in turn is creating less debt for the bailiffs to chase, which is bad news for debt recovery businesses, but no doubt a comforting thought to debtors!

Written by Katie Simpson ©

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Posted in Debt Consolidation & Re-Mortgages, Debt Management, News & Features | No Comments »

Store Cards – The Facts

Wednesday, August 18th, 2010

Store cards can be very appealing, offering discounted shopping on a buy-now-pay-later agreement. But store cards can be very dangerous if they are not used carefully.

Despite the discounts and convenience they provide, store cards can come at a hefty price with many attaching an annual percentage rate (APR) of up to 30% on your purchases.

Even if you begin use store credit for small purchases, things can easily spiral out of control. Many people nowadays are struggling to meet their full repayments on credit and store cards due to the rising living costs, resulting in high interest charges and mounting bills.

Be smart about your card use

Credit and store card use is commonplace at the moment. If you regularly use store credit, you need to be clever about it.

Firstly, you should always read the terms and conditions of the credit agreement. Many stores offer varying interest rates so it is vital that you check the APR percentage before you spend anything. Some stores offer interest rates as low as 13%, whereas some have a whopping 30% APR.

If you feel you are able to manage your finances well, it may be beneficial for you to use store credit, but you must be sure that you can clear the full balance when you receive the bill. Store cards don’t pose a problem if you are disciplined enough to clear the accrued balance within the interest-free period. Most interest free periods range from 35-55 days.

Where to turn if store card debts are mounting

If you find yourself unable to pay off your store card debt, and find the balance you owe is continuously rising, it may be a good idea to consider a debt management plan.

Debt management plans can cover all of your unsecured debts, including credit cards, store cards, catalogues, unsecured personal loans and overdrafts. All debts would be grouped together and an affordable monthly amount will be decided by you and the debt management plan provider. This monthly fee would then be paid to the company providing your plan and they would then manage your debts for you.

A great benefit of a debt management plan is that you do not have to liaise with your creditors any more, and the interest and charges being added to your accounts will be stopped indefinitely. This means that with each monthly payment you make, you will only be paying toward the capital debt that you owe.

Debt management plans stop the cycle of debt and give peace of mind to debtors, in knowing that the balances on all debts are lowering each month, until the debt is paid off.

While engaged in a debt management plan, you will be assigned a personal finance manager, who will keep in regular contact and offer advice and assistance wherever it is needed. They will also be able to update you on the status of your finances, and will be able to tell you exactly how long it will take before you become debt free.

For a free consultation with one of Sterling Green’s qualified financial advisers, call 0800 083 2827.

Written by Katie Simpson ©

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Don’t Fret Over Your Debt – Help Is On Hand

Wednesday, August 11th, 2010

According to financial experts, it is normal to feel depressed over mounting debts. What you need to remember is the situation isn’t permanent and things will improve. Unfortunately there are people who cannot see a solution to their problems and become so depressed, they contemplate suicide.

We have compiled some important information about this issue and hope that our tips below will help to prevent future tragedy.

Why do people resort to such extreme action because of debt?

A huge problem at the moment is that people just don’t know where to turn when things become difficult financially.

When your credit card bills are mounting, when the mortgage is too expensive, when you can’t find employment, life can seem such a constant struggle that you feel it is unbearable.

“Financial stress can negatively — even severely — impact things outside of the wallet: your health, your job and your relationships,” says David Alecock, a vice president at InCharge Institute, a credit counselling service.

There are several options available to people who are in debt, so why would someone consider committing suicide instead of seeking financial help first?

Where some people have the ability to pull themselves out of a hole, others can find it very difficult and opt for desperate and extreme measures. If a person in financial difficulty develops mental issues such as depression, seeking help can feel impossible.  In addition, people experiencing major stressors such as redundancy,  illness, or loss due to death, or divorce may be more prone to depressive behaviours. All of these stressors can make the financial burden feel even more difficult to bear, and thus making extreme measures seem like the only available option.

Debt and death in the news

There have been many cases reported in the news about people who have found themselves in financial difficulty and have resorted to harming themselves, and even others.

In one recent case reported in national newspapers, a young father in Hampshire took the lives of his wife and two young daughters before taking his own. It was reported that the man had hidden debts from his wife and had been struggling for months to meet his mortgage payments. He had also been anxious about debts he had accrued on credit and store cards.

Another recent case is that of a 60 year old Worcester man who ended his life in May 2010. The man, who had accumulated several thousand pounds worth of debt on credit cards and personal loans, also owed almost £100,000 to friends who had lent him money to help ease the burden of his debts. In addition to this, the gentleman had also missed several payments on his mortgage. He had successfully hidden all his debts from his wife and family and had suffered in silence, without seeking help.

These stories are just two of many tragic cases around the world.

What can we learn from these stories?

“I think people should realize that debt doesn’t have to result in suicide,” says Daniel Reidenberg, a psychologist and executive director of Suicide Awareness Voices of Education (SAVE).

“Too often, people are feeling because of the financial stresses that their only way out of their debt is death. Sometimes they think their family would be better off because of that, and most often, they’re not; they’re far worse. ‘’

Helping a loved one

If you know that a friend or family member is having financial problems, you can offer a sympathetic ear, without judgement. Many people who are in debt want to keep their business private and feel too proud to seek help.This is natural and you can reassure them that any details shared will be confidential.

The power of listening is a great tool and can make a huge difference. Offering discreet help to a friend can be extremely valuable, and the difference between a positive change and a negative one.

Don’t let the debt control you

The hardest part of gaining control of your debts is admitting that you have a problem. This may be difficult, but coming to terms with the issue is a vital part of recovery.

Talking to finance professional can help you see things clearly and put together a plan of action to start controlling your debts.

What you need to do is take a good luck at your income and expenditure and see where you are at the moment. Whether you crunch those numbers yourself or want someone to help you, calling a debt management service is the first step in the right direction.

Friendly staff are on hand to help you devise a plan to get debt free. A debt management plan will involve you making an affordable monthly payment toward your credit, where all charges and interest will be stopped so you don’t have to worry about your debts mounting any longer.

If your creditors are hassling you for money, a debt management company can also put an end to this, ensuring you can get on with your life without having to receive letters and phone calls every day.

Support and crisis help

If you find yourself in a position where you fear you may harm yourself, call The Samaritans helpline on 08457 90 90 90.

If sharing your problems with a friend, or counsellor in person seems like too much at this stage, consider online support groups. iVillage, a website for women, has a message board section with many debt categories, including a debt support group where people share their stories and receive advice and encouragement.

Don’t put off seeking help

Don’t forget that there are people who can help you on the road to becoming debt free.

Financial professionals deal with people’s debts every single day, so there is no need to feel embarrassed. Seeking help is a very brave and very positive thing to do. You should not wait until you hit rock bottom to look for help. Now is the time to look into your options.

There are many solutions available to help with debts and here at Sterling Green, we have qualified financial advisers who will offer a sympathetic ear and some professional advice on how best to tackle your debts. We work with you to find a figure you can afford each month to put toward your debts and we help every step of the way.

Our friendly team are just a phone call away so please do not hesitate to call us on 0800 083 2827, or alternatively, fill in an online form on our homepage so one of our advisers can call you at a time that is convenient.

Posted by Katie Simpson ©

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Posted in Debt Consolidation & Re-Mortgages, Debt Management, IVA, Loans, News & Features | No Comments »

OAPs Unable To Enjoy Retirement Due To Mounting Debts

Wednesday, July 21st, 2010

Recent statistics show that pensioners in the U.K owe a mind-blowing £8.4 billion in outstanding debts.

Additionally, almost 600,000 citizens over the age of 65 are still paying off their mortgages, with each individual owing more than  £30,000. Even more worryingly, over 1.5 billion pensioners owe  substantial amounts on credit cards, arguably the worst form of credit to have.

Many over 65’s also owe money on store cards, overdrafts, catalogues and personal loans that they are unable to pay off. Due to high interest rates and charges at the moment, these OAPs are struggling to pay off their unsecured debts with low incomes and pensions. This is resulting in a lot of worried pensioners and  for many of them, it is having  a detrimental effect on their health.

According to the CCCS, the age group with the highest rise in personal debts within the last year were citizens of pensionable age. This is mainly due to the rising cost in living expenses, which their limited imcomes cannot cover.

These difficult times are stopping OAPs from enjoying their well-earned retirement and forcing them into turmoil, juggling debts and general living costs.

Here are some simple tips if you are struggling with debt

1. Prioritise your credit payments

Work out how much money you owe to each individual creditor. Then make sure the biggest debt receives the highest monthly payment, and the lowest debt, the smallest payment, in order to restore some balance to your credit commitments.

Your first priority should be any debts secured to your property or any hire purchase items, as if you miss payments, your home and higher purchase goods can be repossessed by the lenders.

The second priority is any bill that can result in you being prosecuted if you do not pay, such as tax and TV liscence.

2. Look into the best deals on credit cards

You should take the time to shop around for the best deals on credit cards. 0% interest cards are widely available and could save you hundreds of pounds in interest payments.

It is also worth looking into the best rates for gas and electricity. There is much competition between energy suppliers at the moent, so research each company and find out what is the cheapest option for you and whether you are eligible for any discounts.

3. Be aware of any government benefits available to you

Look into if  you are eligible to claim any benefits from the government. Filling in a simple form can be the difference between considerable help, and no help at all. Millions of pounds go unclaimed every year in entitled benefits, so contact your local authority to find out whether you are eleibile for pension credits or council tax benefit.

4. Remortgaging and extra income

Another great solution to your debt problem is a remortgage or downsizing your home. If you still reside in the family home and you feel there is surplus space, you could look into moving to a smaller property and using the profits from the sale of your house to help clear your unsecured debts. If you do not wish to sell, you could opt for a remortgage, providing there is sufficient equity in the property.

Another  solution is to consider taking on a part time job to boost your income. Light work in a shop or call centre can be a huge help to able-bodied individuals.  Short working hours in a comfortable environment are available and your many years of working experience can be very attractive on a CV.

5. Debt Management Plan

Another great option is a debt management plan. These plans can reduce the amount of money that you are paying out on credit each month and also stop the interest and charges you are currently incurring. Many people choose to engage in a plan to make their lives much easier.

While on a debt management plan, you do not have to deal with your creditors any longer. They are banned from calling or writing to you. Instead, your personal finance manager will negociate a lower monthly payment to your creditors and will deal with them directly on your behalf, so you are just making one affordable monthly payment instead of attempting to juggle each individual debt.

Also, as you are not paying out on costly interest rates, you are clearing the capital debt that you owe, so you will be debt free much sooner that you would without a management plan.

Posted by Katie Simpson ©

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Posted in Debt Consolidation & Re-Mortgages, Debt Management, Loans, News & Features, Tax Debts | No Comments »

£5 Note-Only ATM Machines Will Help Consumers Save Cash

Wednesday, July 14th, 2010

The first batch of brand new cash machines that dispense only £5 notes have been released across the U.K.

The aim of this new development is helping people to budget better and control their money much easier. The maximum withdrawal from these machines is £50, all of which is dispensed in £5 notes. It is believed that dealing with small bank notes helps people to be more conscious of how much they are spending.

On 28th June 2010, ATM company Bank Machine launched 21 machines. The machines have been installed in newsagents across the country, following a 2 year trial scheme which took place at Waterloo Station London.

Over this 2 year period, 100,000 £5 notes were put into circulation.

The 21 machines are situated in Axminster, Banchory, Beaconsfield, Cannock, Cardiff, Crosby, Fleet, Lower Early, Manchester, Market Rasen, Newton Abbott, North Walsham, Oakham, Oxford, Paddock Wood, Penzance, Portsmouth, St Mellons, Strathaven, and Stroud.

These new cash machines are free to use, although there is an average fee of £1.50 per withdrawal at 2,300 of Bank Machine’s other 3000 ATMs.

The Bank of England is hoping that this new service will bring more £5 notes into circulation to help people budget more efficiently and aid debt management.

Both consumers and retailers have pointed out that it is very hard to get hold of £5 notes, and then retain them through the day. This is not only because of a shortage in numbers of the notes, but also because many everyday items cost less than £5 and it is easier to pay with notes rather than root in pockets or bags for loose change.

There is also the argument that loose change and pound coins are needed for other important uses, such as hiring a trolley at the supermarket or paying for parking where only coins are accepted as payment. This would result in people needing to hold onto their loose change, and choosing to pay with small notes in shops.

Some £1.3bn worth of £5 notes were in circulation in the UK at the last count in 2009, according to Bank of England figures. This could do with increasing largely in the next few years to achieve the maximum improvement.

Ron Delnevo, managing director of Bank Machine has said “There is cast iron proof that cash – and small denominations in particular – help people to budget, especially now during these financially stretching times.”

Andrew Bailey, chief cashier at the Bank of England, announced “The Bank has several projects under way to meet public demand for more £5 notes. One of these aims at encouraging the industry to include £5 notes in their ATMs – the front line of cash provision to the public.”

Posted by Katie Simpson ©

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Living On Credit

Wednesday, June 9th, 2010

The Facts

Are you regularly running out of cash before the end of the month? Over 5 million households are using credit cards to pay for general bills and necessities every month in the U.K.

Despite recent reports of a growing economy, average family incomes are tight. Less working hours available, pay cuts and the rising cost of living have stretched family budgets to the absolute limit.

Worryingly, more than 5 million homeowners are now using credit cards to pay at least one household bill each month according to research by moneysupermarket.com.

The problem might be eased if minimum wage was to rise, but that does not look likely due to the amount of national debt at the moment.

Private businesses have just come through the worst recession for years and surviving companies are not going to want to pay their staff more or employ any more people than absolutely necessary as a vast majority made a loss last year, or at the least experienced a slash in profit.

In the public sector, the government’s six billion pound cost-cutting plan could result in up to 750,000 redundancies, meaning a huge financial blow for thousands of families.

How The Cycle Starts

With many creditors increasing minimum repayments, people are getting into a downward spiral of debt that they cannot afford to pay.

This cycle begins when necessities are paid for using a credit card, which then has to be paid off using next month’s wage. Then when the next month comes, there isn’t enough cash to pay the necessities, so the credit card needs to be used again. This cycle continues month after month and is very hard to get out of.

If this situation is not stopped, and the full amount is not cleared as soon as the bill is received, debts continue to grow and monthly minimum payments continue to increase.

Solution To The Debt Problem

In general the only way stop this vicious cycle of using credit, incurring interest charges then spending months or even years paying it back,  is by using a debt management solution.

There are two main debt management solutions to consider – a debt management plan (DMP) and an individual voluntary arrangement (IVA).

The best solution to use will very much depend on personal financial circumstances. However, the key behind both is that they successfully reduce monthly debt payments to an amount which is manageable based on each individual’s income and expenditure.

Once debt payments are reduced, there is no longer any need to supplement income with credit spending as all reasonable household living expenses can be paid out of monies saved on what you would have usually paid to your creditors.

The only way to resolve this problem is either to increase your income or reduce expenditure. In reality, most families are unable to do either, as pay rises are unlikely in the near future and the cost of living is constantly rising.

For this reason, considering a debt management solution is the best thing to do to stop a reliance on credit and fast-track yourself to solvency.

Posted by Katie Simpson ©

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New Findings By Citizen’s Advice Bureau Show Britons Taking Control Of Personal Debts

Wednesday, June 2nd, 2010

A new survey conducted by the Citizen’s Advice Bureau found that 1/3 of all calls made to CAB are in relation to a debt enquiry.

These statistics which were published last week show the extent of personal debt problems in the United Kingdom at the moment. The credit crunch has clearly left vast amounts of people in financial difficulty and results from the CAB also show a 24% rise in debt related telephone calls.

A massive 2.4 million phone calls seeking advice on credit problems were made between April 2009 and March 2010, a clear sign the recession is still having a very serious impact on many families and individuals and many are struggling to cope.

Citizens Advice Chief Executive, David Harker, said: “We know from our frontline that the human impact of the recession is far from over for people who have lost their job or home, or both, in the past two years.”

However, a recent review in parliament found that people are taking steps to combat their debts, with almost 2/3 of personal debt solutions being provided by the private sector.

Kevin Still, debt expert and director of Atlantic Financial Management stresses the importance of acting quickly to find a solution to debt crises and to avoid situations spiralling out of control.

“It can take many months to decide to do something about your personal debt crisis, but when you do then you want to act immediately” said Still.

“The majority of private sector firms do not charge any fees for the initial debt advice consultation. They should be completely transparent about any fees that may be applicable depending on the debt solution that best suits the client’s needs, For example, a Debt Management Plan (DMP), an Individual Voluntary Agreement (IVA) or Bankruptcy. In Scotland, other solutions like Protected Trust Deeds apply, but the same principle should be true.

He added: “Our average client on a Debt Management Plan (DMP) has over £29,000 of unsecured debt with 8 creditors.”

Posted by Katie Simpson ©

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Cost Of Living Rises As Wages Fall

Wednesday, May 19th, 2010

New figures released by Incomes Data Services (IDS) have revealed that the average wage rise is not keeping up with the rate of inflation. The cost of living is constantly increasing yet wages are not matching the hike, leaving many people in financial trouble.

In the three month period ending in February, the average wage rise increased by just 0.1% to 1.9%, compared with the three month period ending in March.

As the Britain waits to see what effect a hung parliament will have on the economy, only one thing is definite: massive cuts will need to be made in order to relieve the astronomical proportions of national debt, which is presently £404,700,000, according to statistics from the charity, Credit Action.

Although promises have been made to keep redundancy to a minimum, unemployment figures – which are currently at their highest in 16 years, standing at 2.5 million – are likely to increase, and added to this, a continuing rise in pay cuts is inevitable.

Those lucky enough to have secure employment during the recession are now facing the prospect of their income not covering their living costs. Credit Action states that 5.4 million adults (11%) spend more than they earn, whilst 13 million (26%) just about break even.

Rising inflation has tripled from 1.1% to 3.4% in the 6 month period from September 2009.

This large increase in inflation, and tiny increase in wages, is breaking Britons’ bank accounts. However, more than a quarter of U.K citizens have an ingenious back-up plan… to win the lottery jackpot, according to a survey conducted by YouGov, but until then over 14 million Brits are using credit cards for everyday items.

Kevin Still, debt expert and director of Atlantic Financial Management, said that these factors are causing more and more Britons to seek debt help. He added: “Loss of income remains the number one debt reason for someone starting a Debt Management Plan, closely followed by ‘debt spiral’ where people have allowed their use of plastic to get out of control and build up substantial credit card debts.”

Posted by Katie Simpson ©

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U.K Residents Conceal £55bn Worth Of Debt From Partners

Tuesday, May 11th, 2010

We all know how hard the recession has hit in the past year. Trouble with keeping up with repayments and juggling what feels like hundreds of financial commitments each month are common woes felt by most people at this time. But also there are people who are living with the stress and strain of hiding debts and financial difficulties from their loved ones, often even their partners are unaware of the extent of the debts they have accrued over the years. A recent survey conducted by the Post Office outlines just how serious this problem has become for many individuals.

Recent studies have revealed that more than a fifth of us lie to our partners about how much money we owe. To the extent that as a nation we are concealing £55 billion in secret bills, according to new research from the Post Office.

The average U.K citizen has nearly £10,000 worth of debt, but only admits to owing half that amount when talking to their partners, friends or family. The consequences of these lies, this new survey suggests, are dire.
Nearly 50% of people who are have secret debts suffer with sleepless nights and a fifth experience mood swings, while more than 10% turn to comfort eating and heavy drinking to escape their financial worries, claims the research.

In addition to the afore mentioned  problems, 12% of those surveyed are under so much pressure to keep their debts secret, they even experience problems at work.

Not surprisingly, many secret debtors (6%) encounter relationship difficulties as a result of the strain that their financial burden brings.

“The recession has put a massive strain on many families,” said Doug Strachan, director of financial services at the Post Office. “Many families may be, for the first time, experiencing levels of debt that they cannot control.”

The study also found that the main cause of debt for women was overspending on clothes, with takeaway coffee and chocolate coming in at second place. The primary reason for men’s debts is spending too much on alcohol and gadgets. As well as being the prime reasons for such high levels of credit, these are the expenditures that are most likely to be hidden from others.

“Hiding the extent of debt from a partner or family member may give a false illusion of control or independence,” said Donna Dawson, psychologist. “But the reality is that our mental and physical health suffers.”

In conclusion

Although admitting to having debts that are substantial is embarrassing, honestly really is the best policy. Having read about the level of adverse side-effects many people are experiencing when attempting to conceal their debts from others, the best way to deal with the situation is to avoid spinning a web of lies where your tracks need constantly covering.

Nobody wants to see loved ones struggling with depression or having trouble at work because of the strain of hiding debt problems. If you yourself are covering up debts, start by admitting you have these debts, and research what help is available to yourself. Don’t be afraid to admit your debts are larger than you previously implied. There are people that can help you and your family and partner would most likely want to help and support in any way they can.

Although the initial steps to admitting your troubles will be difficult, you are doing yourself a huge favour by being honest and beginning to put a solution into action. Remember that nothing is worth risking your health.

By Katie Simpson ©

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Posted in Debt Consolidation & Re-Mortgages, Debt Management, Loans, News & Features | No Comments »

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