A Country Full of Debt
We live in an age of debt, this is now an accepted fact. When the recession hit it affected everyone from Governments to the ordinary man. The cost of living increased and with it the average amount of debt per person did as well. In the last decade household debt in the UK has doubled and on average a typical British household now owes £54,000. The total amount of personal debt in Britain is now up to £1.4 trillion as large parts of the country are in the same situation.
A lot of this debt is out of our control. Continuing rises in energy prices and food shopping means we are now spending more than we can afford just to get by. It is becoming increasingly easier to not only fall into debt but for that debt to build as we try and pay it off. It’s not just financial implications that debt can bring about, there are also the personal implications that it can cause. It can wreak havoc on relationships, general well-being and mental health. Having large amounts of debt can be extremely stressful.
How to Get Help
With so many people in debt, and trying to get out of it, there is lots of advice available on how to efficiently and effectively pay off your debt. A big “trap” people can fall into is how they go about paying off their debt. They can end up just paying the interest off and not removing any of the total debt they owe. Another pitfall is having lots of different payments to make and failing or forgetting to make one of these payments. This will lead to penalty fees and will negatively affect your credit score.
The best way to avoid falling into any of these traps and pitfalls is to get help and find a way to manage your debt effectively. There are a number of debt management agencies that can help you out and we have been really impressed with the service provided by MoneyExpert. MoneyExpert will be able to tailor a plan to suit you and your debt to help you pay off as much as you can afford each month. The service they offer will find a solution that suits you and your means.
You can clear your debt without the need for a loan
Have one affordable monthly payment
Stop demands from your creditors
The website offers a quick 60 second application where you can find out how best MoneyExpert can help your individual situation. There is plenty of information on the website to help you decide if this is the right course of action for you and give you the pros and cons of taking a debt management plan. You will find a host of frequently answered questions that will help you make an informed decision.
MoneyExpert has helped thousands of people and they can help you to stop debt from affecting your life. MoneyExpert can help make paying off your debt a simpler, stress free task.
Click here to find out how MoneyExpert can help you and in just 60 seconds see what plan they can offer you.