Hi Junglers,
New figures have shown that almost 33% of people who have sought help with their debt have been told that there is no appropriate action they can take to tackle their financial situation. Well now’s the time to change this with Credit Jungle.
The research from the Consumer Credit Counselling Service (CCCS) has released the figures after reviewing calls made to their free debt advice helpline and said that 30,446 people who had received debt advice were told that there was no appropriate debt solution for their financial problems.
According to the debt charity the only advisable course of action would be to increase their earnings, which the CCCS acknowledged as being near impossible for most households.
The CCCS said that 9.8% of callers were advised to pick bankruptcy, but only those with high, unsecured debts, while 4.8% of callers were recommended to take out debt relief orders in the first half of the year with 27.2% advised to enter a debt management plan, a reduction from 40% in 2007.
Remember Junglers, if the strains of debt are starting to show, it is important not to bury your head in the sand but to seek professional debt advice. As well as debt management plans other alternatives exist such as individual voluntary arrangements (IVAs) or even bankruptcy. Either way, all of these solutions require a lot of thought.
Kindest Croaks,
CeeJay x