Hope for Rising Personal Debts Offered in New Book

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New book offers hope for growing number of people with rising personal debts.

Using the techniques which he details in his new book How to destroy your debts, Samuel Blankson offers a tried and tested route to getting out of debt, and into that place where the money you choose to spend will be your own, rather than someone else’s which you will need to repay.

In Britain credit card borrowing over the last five years has soared by a staggering 52%. Every four minutes Britons on the whole add another £1,000,000 to their personal debt. At Christmas, while many people buy their presents on plastic, a large number of those same people still haven't paid off their previous year's Christmas spending.

On the whole personal debt is on the rise according to the latest figures from the Department of Trade and Industry. In the year 2005, UK personal debt grew by 10.2% from the previous year. The same period saw home-secured lending up 10.4% and consumer credit lending to individuals up 9.3%. These figures might not appear to have much meaning but the shocking fact is that the average UK household is in debt by £7,786 outside the mortgage and £24,833 including the mortgage.

A growing number of people are rightly beginning to worry about their ever-spiralling debt, and a number are looking for a way out. But what do they do about it?

The solution to this crisis is not going to come from neither the government nor the money-lending industry: An uSwitch survey highlighted, nine out of ten credit card borrowers were issued a card without a credit check to confirm their ability to repay. Whilst consumers spend, the government revenues generated from taxes is sustained and increased.

Personal debt has grown to levels warranting a medical name. Dr Roger Henderson called it "Money Sickness Syndrome". "Money Sickness Syndrome" is literally breaking up families, with divorce rates steadily growing as 10.56 million Britons admit to having relationship break-ups due to money worries and one in five people admitting to a decline in their sexual activity due to money worries.

In How to destroy your debts, you will find a set of practical tools to wipe out your debt. Topics covered include shopping techniques (including how to organize your grocery shopping), Vehicle management, changes in employment, as well as techniques to completely repay your mortgage in a little over half a decade. Samuel also addresses insolvency and bankruptcy processes, and whether they are the right path for a person to follow.

As Samuel highlights in How to destroy your debts, getting out of debt is not easy - to succeed at it you will need to take a stand, develop discipline, and make some changes in your spending habits and lifestyle. If you are persistent, and willing to take responsibility for your current situation, and all the actions which you will need to take, your future will truly be brighter, and you will no longer dread opening your bills each month. You can be one of the “financially free” described in How to destroy your debts.

How to destroy your debts is currently available from all good bookstores, as well as http://www.practicalbooks.org.

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Nana Kwame

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