Christmas Will Lead to Record Debt Problems, Say Debt Counsellors
(ContentDesk) December 11, 2005 -- As the festive season gets into full swing and shoppers fill the High Street, the Debt Counsellors warn that overspending for a Merry Christmas this December could lead to a very unhappy New Year, and are predicting record levels of debt problems for 2006.Personal debt is already over ?1 trillion in the UK and latest research shows that around three million people owe more than ?10,000 on credit cards, loans and overdrafts.But with millions using credit to fund their Christmas spending this year, John Porter, a senior counsellor with the Debt Counsellors, believes that the UKs debt problem will suffer a sharp rise in the New Year. People feel under increasing pressure to spend more than they can afford at this time of year, says Porter. Unfortunately, that means using their plastic or taking out a loan or upping their overdraft. The credit companies are only too happy to oblige. But of course they wont be so easy going when it comes to getting their money back. Barclays, HSBC and others are getting tough with bad debts. With the situation as it is, this Christmas is going to have an especially devastating effect on personal debt. There will be a lot more sore heads than usual come the New Year, more through overspending than overindulgence. With bankruptcy in the UK also on the rise, the signs are ominous for 2006, which is why Porter urges more people seek professional help for their debt problems. The real problems start when people fail to face up to their debts and allow the situation to spiral out of control, he says.
There are always solutions for those in debt no matter how serious the problem, but the best people to find them are the professionals in the debt help industry, so no-one should be afraid to seek expert advice. For more information, visit http://www.debtcounsellors.co.uk.
Insolvency, Bankruptcy and the IVA: the Truth Behind the Worst Ever Levels of Personal Debt
(ContentDesk) November 5, 2005 -- The number of personal bankruptcies has gone up by 32 percent and IVAs by 98 percent, the DTI announced on Friday. In the third quarter of 2005, 12,256 people went bankrupt and 5,754 entered into an IVA (Individual Voluntary Arrangement). And the DTI doesn't know why this is happening. But The Debt Counsellors do..."The Department of Trade and Industry might not know why bankruptcy and IVA levels are so high but those working in the debt help industry do," says John Porter, a senior counsellor at The Debt Counsellors (see http://www.debtcounsellors.co.uk).The DTI wants to explain why so many people can't pay their debts. They have commissioned surveys, made models of business start-up rates, spoken to Bankers about their lending policies and written reports with lots of colourful graphs.
Who knows how much all...
Insolvency, Bankruptcy and the IVA: the Truth Behind the Worst Ever Levels of Personal Debt
Bankruptcy > Insolvency, Bankruptcy and the IVA: the Truth Behind the Worst Ever Levels of Personal Debt
How Personal Loans Outperform Bankruptcy and Credit Counseling Services
Not all personal financial remedies are for everyone. Reviewing and understanding how the various credit and debt solutions vary, can help you fine tune your resources. Before you commit financial suicide, have you evaluated whether or not a personal loan is better than debt consolidation or filing a bankruptcy?Did you know that certain non-for profit credit agencies are hired by creditors? They profit with a kick back from the credit card company when consumers use their repayment programs. On the other hand, certain debt consolidation companies charge excessive service fees for negotiating a rate a consumer could do for themselves.The differences between debt consolidation management, personal loans and bankruptcies all differ in their scope of benefits and drawbacks. Review the following information to learn why personal loans outperform other financial options.Home Equity Line of Credit or a Second MortgageAdvantage: It offers a great benefit because a consumer may be able to reduce...
How Personal Loans Outperform Bankruptcy and Credit Counseling Services
Bankruptcy > How Personal Loans Outperform Bankruptcy and Credit Counseling Services
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Bankruptcy > Need Storage or Work Space? Consider a Utility Shed.
ringtones Bankruptcy Christmas Will Lead to Record Debt Problems, Say Debt Counsellors