“Incredibly important” for debtors to be aware of solutions

January 15, 2008 by admin  
Filed under News, News-Loans

It’s “incredibly important” that those seeking debt help are made aware of all solutions available to them, says a debt advice service.

Debt Help UK said that being aware of all the solutions that are available can make the difference between finding an appropriate solution and having a solution forced upon her.

Iain Wrenshall, director of Debt Help UK, said: “As your situation degrades, then your options generally become narrower and, ultimately, your creditors have the sanction to make that choice for you.”

“It is important that people don’t bury their heads in the sand, but look for free advice which is going to help them understand the solutions and the options open to them,” he concluded.

According to research from uSwitch.com, almost one in four UK adults are finding debts unmanageable – 9.5 million have maxed out on one form of credit in the last six months and 38 per cent have had a credit card application rejected.

Tags: debt, Debt Help UK, Insolvency law, director, United Kingdom

Related Entries

  • Holidaying without insurance “incredibly irresponsible”
  • Going on an adventurous holiday and risking serious injury without travel insurance is "incredibly irresponsible", the Association of British Travel Agents (ABTA) has said.A recent survey for the Foreign Office revealed that 20 per cent
  • Debtors should not “hide the problems”
  • People facing serious financial difficulties should not try to "hide the problems" or assume that they can solve them themselves by using their credit cards even more, says an expert.A recent report has found that
  • Slump in equity release sector in 2008
  • A recently released report has shown that there was a slump in the equity release sector last year, and this slump stemmed from the Northern Rock crisis, which saw the building society becoming nationalised after
  • Northern Rock revises Together Mortgage
  • In response to rate changes at rival BM Solutions, Northern Rock revamped its Together range of mortgages yesterday by cutting rates across the entire range.In addition, it has increased the help with costs option to
  • Credit squeeze hitting savers
  • Consumers are increasingly feeling that they are unable to save as much as they might like to due to the current economic downturn, according to Nationwide Building Society.Matthew Carter, Nationwide director for savings, said that
  • Abbey slated over 125% mortgage
  • Amidst the turmoil and chaos that has hit the financial and mortgage markets over the past month, high street bank the Abbey has announced the launch of a 125% mortgage deal for first time buyers
  • Keeping insurance costs down
  • For most people having insurance cover in place is a way to provide a financial safeguard against a plethora of possibilities, from the chances of having a car accident to the chances of being burgled
  • Majority prefer printed bank statements
  • Managing your finances online may be a growing trend, but the vast majority of people still prefer to put their faith in the printed word and the postal service. A new survey on consumer attitudes

Speak Your Mind

Tell us what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!