Thousands of families across the United Kingdom will find themselves with obscene credit card bills during January and face the difficult question of how to pay it back and get out of debt. We urge consumers to spend carefully over the holiday season.
(PRWEB) December 2, 2009
During tough economic times with rising levels of personal insolvency, one UK website is offering consumers reliable, factual and helpful money advice.
Personal finance weblog MoneyStand.co.uk has been providing information and opinions on personal finance since January 2008. The blog was created for UK consumers facing common financial issues wanting honest, up front information with no hidden agendas. The website will be launching a series of articles on seasonal spending this Friday to help consumers spend less over the festive season and start sensible budgeting.
According to a report released by government body The Insolvency Service at the start of November, personal insolvencies have risen by 28.8 percent in the past year. This figure consisted of consumers who had opted for bankruptcy, IVA or a Debt Relief Order to overcome their debt problems. Although the increase in individuals seeking personal insolvencies may be attributed to a rise in unemployment, MoneyStand.co.uk estimates that this figure will continue to rise during 2010 following excessive spending over the festive season.
Founder Matt Spencer said, “Along with Christmas and seasonal celebrations comes a heavy expense. Thousands of families across the United Kingdom will find themselves with obscene credit card bills during January and face the difficult question of how to pay it back and get out of debt.”
“We have seen a massive increase of personal insolvencies since the economic downturn and estimate the further financial pressure that Christmas brings will be the ‘final straw’ for many people already struggling with debt without careful budgeting. We urge consumers to spend carefully over the holiday season.”
MoneyStand.co.uk is a resource for anyone in the United Kingdom wanting to learn more about debt solutions such as IVA (Individual Voluntary Arrangements), bankruptcy, debt relief orders, debt management plans and consolidation loans. The weblog also focuses on debit and credit cards, budgeting and saving. In addition to as becoming a valuable source for information, the website offers practical advice on small changes consumers can make in their everyday life to make the most of their financial situation.
As well as providing information on debt solutions like IVAs and debt management, the authors share their own personal experiences with money, such as problems with banks and opinions on finance news. “MoneyStand is a financial hub for anyone in the United Kingdom who wants practical advice on managing finances and debt problems without the jargon.” Matt Spencer explained. “All articles are written by people with extensive knowledge on personal finance and all facts are taken from government websites so you can be sure the information is accurate and up-to-date.”
Since the beginning of the financial crisis, the website has noticed an increased amount of consumers seeking sensible financial advice in easy to comprehend terminology. During this time the website has committed to providing consumers the latest information on topical personal finance issues.
The website will be launching the new series of articles this Friday on helping people in the United Kingdom avoid overspending during the Festive Season.
For the latest news and advice on IVA, debt and insolvency visit our personal finance blog, http://www.moneystand.co.uk.