Beware of the Debt Vultures!
More and more families are getting themselves into debt in the UK. The Typical unsecured family debt now stands at £7,944. When you compare this to the same time last year, the typical debt was £5,360. If this trend continues, we are in for some very hard times.
Recent data also reveals that credit cards are the main culprit when it comes to unsecured debt. Although, personal loans and overdrafts aren’t too far behind.
Debt advice Charities in the UK are preparing for the inevitable as demand for help is set to increase as many families struggle to pay their debts,
Research shows that 20% of the population in the UK, are now finding it really difficult to control their debt.
As the first bills of 2012 reach us, now is the time when those people in debt don’t know where to turn may be tempted by offers of credit from anyone who will lend it to them. A text message offering a quick, pre-approved loan can be very tempting if you’re in debt and you feel you have nowhere else to turn
Many debt advice charities are warning that these people will fall deeper into debt due to some debt companies offering “miracle solutions” for their debts. Many of these firms promise a debt-free future but fail to deliver. These firms make their money by charging high fees.
When it comes to debt help and advice in the UK, it really is a case of if something sounds too good to be true it usually is. You don’t
Stop The Debt Vultures
need to pay anything for advice or for a debt management plan.
These companies target the most vulnerable people and often, send mobile texts and email’s offering them their “services.” All too often the people who reply to these texts and e-mail end up in a far worse situation than before.
Many companies are legitimate but these firms that look to make a huge profit from people’s debt worries, are cause for concern within the debt help industry. The reality of the situation is that anyone who contacts you offering to fix your debt problems, are doing it because they can make money out of it.
People in the UK should be aware that they are entitled to free expert advice that will help them with their debts in the correct manor.
The Consumer Credit Counselling Service has actually launched a campaign in the hope that it will alert people on the scale of spam texting. They are using Twitter as the source and are asking people to tweet using #debttext if they get one of these spam texts. The CCCS see these companies are vultures and they are concerned that families that are struggling will be tempted to reply.
There is lots of free help and advice from UK debt charities. These debt charities will take you through your options and offer a solution that is best for your circumstances. People who are struggling need to know there is good free help out there and affordable ways to get out of debt.
