Up to date information regarding credit and debt issues.

Moderators: TalbotWoods, JaneClack

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By TalbotWoods
#471293 41% of people are in debt and playing a “dangerous juggling act” to try and balance their finances, according to a survey by PayPlan.

The debt management company found almost half of the UK population are “walking a tightrope of debt”, just a step away from losing their footing and falling behind on their repayments.

PayPlan said the respondents to its survey are dedicating hundreds of pounds a month to debt repayments, spending a third of their disposable income to try and stay in control, but living with the fear that bills are creeping up at a faster rate than wages.

The survey questioned 2,000 people across the UK and revealed over half of the respondents felt worse off than they did five years ago, with average debts reaching just over £2,500.

Other key findings are that 77% feel the cost of living will increase at a higher rate than their wages over the next 12 months and the hike in energy bills has caused people the most financial difficulty in the last five years, followed by petrol and grocery costs.

A quarter of people who responded to the survey have struggled to afford food.

John Fairhurst, managing director at PayPlan said: “These results highlight the increasing difficulty many people face when trying to juggle their debt repayments.

“If they were to find themselves having to pay an unexpected bill, something would have to be sacrificed to accommodate this, leaving them with even more problems.

“Add to this stressful situation, the feeling of isolation as many people don’t want to admit to those closest to them that they are having financial difficulties.”

“By offering practical ways to help people get their finances under control, we can help them deal with their situation to start to live again. We believe that you can, and should, live a happy life while repaying your debt.”

[Source: http://www.credittoday.co.uk/article/17151/online-news/almost-half-of-brits-walking-the-tightrope-of-debt ]
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By TalbotWoods
#471303 Would you like to talk to someone CONFIDENTIALLY about your financial situation?

Would you like to talk to an organisations that is NOT going to charge you?

Would you like to talk to an organisation that CAN help you?

If you answered YES or MAYBE to any of these questions, then there are three organisation in the UK that can offer you free, completely confidential, personal and impartial advice on your money worries.

PayPlan: Is a national organisation with approaching 20 years of experience in dealing with all kinds of financial situations, no matter how bad they are. Their advice and help starts with a simple phone call to 0800 280 2816

NDL: Is an organisation that advises you on solutions that are available to you, you can contact them on 0808 808 4000

StepChange (formerly CCCS) Is an organisation that advises you on available solutions with your financial problems. You can contact them on 0800 138 1111

Remember this forum is where you can still ask questions, where you talk to people who have been through financial problems themselves.