Don’t let your family struggle with debt

There may be official signs that the worst of the recession is over but that’s likely to be small comfort to the many families still struggling to make their cash last through the month.

New figures from the government’s Money Advice Service indicate that half the people questioned nationwide are struggling with bills – a figure that is up by 35 per cent from before the credit crunch.

But even the toughest domestic financial crisis can be overcome with the implementation of a few simple steps.

Although there are the genuine signs of financial recovery in the air many families are still suffering the effects of recession and need to resolve those issues before looking forward to a financially secure future.

People who perhaps lost their jobs at the start of the recession will now long since have spent their redundancy payment and be eating into their savings and it’s at this point that things can get tough.

Even people who have found work might be finding that they are not earning as much as they used to and they are having to live on much less.

And if they built up debt during their time without a job, that can be one more problem they don’t want to tackle.

If it seems like too much of the household income is going on debt repayment, though, now is the time to act and seek professional advice.

There are mechanisms available to reduce the amount you are paying, helping you to keep on top of the debt while at the same time leaving you enough to live on.

The truth is that debt is never a problem until it becomes unaffordable but when that happens it is vital to seek the right support.

Bankruptcy does not need to be only solution and by seeking prompt advice you can find the right solution for your particular circumstances.

For confidential advice, call me on 01709 331300 today. We can help.