So if there were a downturn in the economy, people with debt problems would suddenly have debt crises. Therefore, it is essential that anyone worried about their level of debt seeks professional debt counselling.
(PRWEB) May 21, 2006
Debt advice website The Debt Help Site warns that people with debt problems should get professional help immediately to safeguard their future and prevent their situation spiralling out of control.
The personal debt situation in the UK is serious, with the latest figures from the Insolvency Service showing that, year-on-year, individual insolvency rose by 73.4% and bankruptcy went up by 51.2% in the first quarter of 2006.
Added to that, it has been predicted that credit card debt will rise sharply in the coming months, adding to a UK personal debt total that already exceeds £1 trillion.
Terry Galvin of The Debt Help Site believes it is imperative that people with debt problems enlist the help of professionals to get a grip on their situation.
Galvin says: "The level of personal debt in the UK is sufficient to warrant serious concern as it is, and this is in a time of relative economic stability, low interest rates and high employment.
"So if there were a downturn in the economy, people with debt problems would suddenly have debt crises. Therefore, it is essential that anyone worried about their level of debt seeks professional debt counselling."
Galvin insists that there are solutions for even the worst debts. He explains: "A good debt counsellor will know exactly what options exist for the various kinds of debt problems and can give advice on the best course of action to take."
He adds: "It is far better to take control of debt problems rather than worry about them. With good advice and determination, it is possible to become debt free once again."
The Debt Help Site has information on all kinds of debt problems. For more information, visit: http://www.debthelpsite.net