Tuesday, 10 May 2011

"Robbing Peter to Pay Paul"

There are millions of people across the UK who have debt, however that debt is manageable and whilst we might begrudge paying the interest each month we know it's possible to repay our debt eventually.

Some people become entrenched in debt, struggling to find the solutions to resolve long term financial problems, often resulting from another issues such as a marital breakdown or loss of job. When the difficult financial times come, it's easy to understand why people would want to resolve the problems themselves - using their own initiative to move credit card balances to get the best deal, avoid paying high interest and charges and ultimately pay off their debt.

The difficulty for many people arises when there is no longer any credit card available, no loan or further credit on offer. When financial times get tough, it's important to accept that in some instances qualified debt experts could be required - not another loan!

When debt problems are coming through the letter box or via the telephone;

- Face it head on
- Stop looking for a loan
- Ask for debt advice from a qualified debt advisor at a charity, such as Debt Support Trust or Citizens Advice Bureau


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