In an ideal world everyone would stay debt free in the first place. However, it's not an ideal world and debt problems exist. It is perfectly understandable how people get into debt and let the situation spiral out of control.
(PRWEB) March 12, 2006
Becoming debt free is attainable, according to the Debt Help Site, despite the United Kingdom currently struggling under the burden of £1.1 trillion of personal debt.
The Debt Help Site insists there are debt solutions for all kinds of debt problems and no matter how serious the situation, a debt free future is possible.
Credit card debt is an increasing problem and the Debt Help Site Annual UK Debt Survey 2006 shows that more 91% of people seeking help for their debt problem owe money on credit cards.
In addition to this, record levels of bankruptcy have been announced for the fourth quarter of 2005, up 38% on the previous year, and many in the debt help industry are predicting 100,000 bankruptcies in 2006.
However, the Debt Help Site says that with professional debt advice and solutions such as the Individual Voluntary Arrangement (IVA), serious debt problems can be solved.
Terry Galvin, editor of the Debt Help Site, says: "In an ideal world everyone would stay debt free in the first place. However, it's not an ideal world and debt problems exist. It is perfectly understandable how people get into debt and let the situation spiral out of control."
Galvin adds: "The good news is that it is possible to become debt free, even for those in serious debt. Bankruptcy can be avoided through the IVA, where you keep your assets and your income and pay off a greatly reduced debt over five years.
"But IVAs are just one solution. Many more exist for all kinds of debt. However, the most important thing is for those with problems to get professional debt counselling to find out about all the options and get advice on the best solution for their situation. That's the first step to becoming debt free."
For more information, visit http://www.debthelpsite.net
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