The need for expert financial guidance is rapidly growing as debt becomes more of a pressing issue, according to various debt help lines.
According to impartial debt advice lines, two thirds of people calling for advice on their arrears are asking staff to handle negotiations with creditors on their behalf. Financially concerned consumers have been inundating debt help lines, Citizens Advice Bureau alone are receiving in excess of 4000 enquiries a day regarding personal debt.
Two major re-occurring problems reported are that people are over-committed on their unsecured debts and due to paying the unsecured debts first are piling pressure on the mortgage payments. The other main issue is job losses and the subsequent lower income levels as a result.
“Getting the right guidance quickly before bigger problems arise is the order of the day, sitting down with an advisor and discussing possible solutions could stop lenders in their tracks. Interest could be frozen and affordable payment plans be negotiated on your behalf”.
