Wednesday 3rd June 2009
Several recent reports appear to suggest that families and individuals facing severe financial difficulties are finding it difficult to get the best advice or assistance.
Kevin Still, director at debt management company EuroDebt believes this demonstrates a lack of awareness amongst financial advisors of the options available to struggling clients, including debt management, which does not put the family home at risk.
“Last week, the Local Government Network released a study showing that 35,000 people could get involved with loan sharks - who usually charge very high rates of interest on their loans - due to the current financial downturn. Not surprisingly the Money Advice Trust raised concerns about this trend,” explained Mr Still.
“There is also concern about the level of debt being incurred on storecards and other ‘buy now, pay later’ credit, as the Finance & Leasing Association reports a 24% increase in these types of agreements in March this year compared to the same month in 2008. New financial figures from Albemarle & Bond, which runs over 100 pawn shops across Britain, also show a 35% rise in profits, which suggests that more and more people are pawning their valuables.
“All of these reports seem to reflect a mixture of financial desperation and the lack of legal lending alternatives. However, non-borrowing debt solutions, including debt management plans, can provide an immensely practical solution for many families. It just seems that brokers and intermediaries are still not accessing this facility to help clients who come to them.” Mr Still concluded.
If you are facing financial difficulties, struggling to repay your debts or your finances are getting out of control and you require some free debt advice regarding consolidating your debts with a debt consolidation loan, or finding another financial solution to manage your finances such as a debt management plan or IVA (individual voluntary arrangement), please give us a call at Debt Rescue Now on 08450 580 999 or click Apply Now and complete our simple 30 second enquiry form and one of our friendly debt advisers at Debt Rescue Now will give you a call to discuss your requirements.
As well as arranging debt consolidation loans, debt management plans and IVAs (individual voluntary arrangements), Debt Rescue Now also specialise in contesting unenforceable loan and credit card agreements (taken out before 4th April, 2007), reclaiming unfair bank charges, mis-sold payment protection loan insurance (PPI), unfair credit card penalties and unfair mortgage exit fees, all on a No Win No Fee basis with no upfront broker fees unlike most other financial claims management companies.
Secured Loan Now, Business Loan Now, Bridging Loan Now, Debt Rescue Now and Choose Loans are all trading names of M60 Mortgages Ltd and specialise in arranging secured loans, personal unsecured loans, homeowner loans, home improvement loans, car finance loans, debt consolidation loans, residential and commercial bridging loans, commercial mortgages and business finance, and buy to let mortgages and overseas mortgages using whole of market high street banks and specialist finance lenders.
Posted 03/06/2009 14:38:09 |
