Did you know, as of April 2009, the average household debt in UK is around £59,765 (Including Mortgage)!
And if you think that you are the only person in UK facing severe debt problems, think again. On an average, 1 person files for bankruptcy or enters IVA in every 3.3 minutes in UK.
If this is not alarming enough, think about the situation where on an average a family pays £3,000 (this is the average payable interest amount/family/year in UK) every year just as an interest. How do you think a less well-off family can get out of this debt cycle!
Now, you may find thousands of reasons to blame Robert Stheeman for this situation. But that is not going to solve your immediate problem – debt.
1 person files for bankruptcy or enters IVA in every 3.3 minutes in UK.
How to fight against debt?
You can never get out of debt unless you take the initiative to get out of the debt trap. For example you may consider frugal living, generating extra income, negotiating with the existing creditors for a better repayment plan, paying them off as soon as possible etc. The success of the plan depends on your determination to stick with it.
In next few posts we will cover some basic ideas on how to fight against debt.
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