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Get Out Of Debt With Free Debt Advice
Get Out Of Debt With Free Debt Advice
According to the Insolvency Service, the number of personal insolvencies in England and Wales rose by five per cent in the second quarter of 2010 compared with the same period in 2009
Lancs,
United Kingdom,
United Kingdom
(prbd.net)
07/10/2010
"According to the Insolvency Service, the number of personal insolvencies in England and Wales rose by five per cent in the second quarter of 2010 compared with the same period in 2009"
According to the Insolvency Service, the number of personal insolvencies in England and Wales rose by five per cent in the second quarter of 2010 compared with the same period in 2009, with predictions for next year pointing to more and more people looking to get out of debt.
The average household debt in the UK, including mortgages, is now £58,083 and this increasing debt pile now means that an average family has to cough up 15 per cent of total income purely to meet interest payments on debt, according to research by PricewaterhouseCoopers.
It’s a sorry state of affairs but from a person-to-person perspective, there is plenty of help out there - with free debt advisors such as R&R Financial Solutions who assist thousands of UK families, individuals and couples living with debt worries.
If you're struggling with debts, rest assured that you have options available to you with the most popular being IVAs and Debt Management Plans, which help towards credit repair too.
An IVA (Individual Voluntary Arrangement) is an arrangement with your creditors. It's entered into with the assistance of an Insolvency Practitioner, who will work to secure the agreement of your creditors to a payment proposal.
Alternatively with Debt Management, your monthly income and outgoings will be assessed. Based on your surplus income available to pay creditors, your debt management advisor will negotiate with them to arrange a lower regular payment. Your debt management advisor also deals with correspondence from your creditors on your behalf. You make one affordable payment per month which is distributed to your creditors.
Eligibility is based on struggles to meet current repayments to creditors. Your debt level may be below the amounts usually required to enter an IVA (or Trust Deed in Scotland). You must have a certain amount that you can pay on a regular basis to clear your debt. If you can afford to pay £100 per month or more, a debt management plan might be a good option for you.
R&R Financial Solutions Ltd
Glenfield Park Two
Blakewater Road
Blackburn
Lancs, BB1 5QH
Phone: 0800 9887 007
email: help@free-debt-advice.co.uk
About
R&R Financial Solutions Ltd
Glenfield Park Two
Blakewater Road
Blackburn
Lancs, BB1 5QH
Phone: 0800 9887 007
email: help@free-debt-advice.co.uk
Website: http://www.free-debt-advice.co.uk/about-us_art66.html
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