Debt Advice

In 2009, average consumer debt levels have never been higher and the concern is that if the housing market falls, there will serious be economic repercussions as some commentators feel too many consumers have overreached themselves with secured loans combined with unsecured loans.

For those who find themselves in serious debt and who are afraid of contacting lending companies, help is at hand in the face of the independent Citizens Advice Bureau. This organisation is available to the public to help with the issues of life including debt. Go to http://www.citizensadvice.org.uk/index/getadvice.htm#searchbox where you'll find your local CAB in the UK. Within the site, there is information on budgeting, prioritising debt, dealing with creditors, information on debt management plans, administration orders, IVA’s, debt consolidation loans, bankruptcy and how debt affects your credit record.

Of course, there is the option to visit any Citizens Advice Bureau and talk face to face with a representative. It helps to be armed with any information you can bring to the meeting, such as statements, creditor letters and how much you owe.