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The economic downturn has had an impact on almost everyone. Today, only 24 percent of people in Britain are living comfortably on their income. Over 3.4 million in the UK are in serious debt, which can have a negative impact on other areas of life such as relationships and health. According to a recent research by Which? Magazine, 68 percent have a negative view on the current financial situation and 44 percent believe it will get worse. Over half the population expects that household budgets will tighten in 2013. With rising costs and high housing prices financial stress is increasing. Many now find themselves in a financially vulnerable situation, often having lost a job, a business and income. The circumstances you find yourself in may seem out of your control, whether you are struggling to cover costs, unable to keep up with repayments, or are receiving threatening calls from creditors. Whatever your situation, if you find your debt spiraling out of control, it is advisable to seek help from a debt advisory company, as ignoring your debt problems will only make the situation worse. Many people don’t know where to seek help and advice over their debt problems, however there are Debt Management Advisors that can offer solutions and a guiding hand. The first step is to acknowledge that your debts are unmanageable. Then do some research into the various types of Debt Management Advisors out there. A Debt Management Advisor could be the solution to enable you to take back financial control. Finding a company that suits your personal circumstances can be as easy as searching online and giving them a call. Alternatively there are free debt advice charities including National Debtline, CCC’s, and Debt Advice Foundation, who offer sound advice and management plans or they can put you in touch with a specialized Debt Management Advisor. Many debt management companies offer a first free consultation to discuss your debt levels. A Debt Management Advisor understands your situation and will set up a debt management plan that suits your financial circumstances without compromising your daily financial living needs. An expert will relieve the stress of harassment by creditors by negotiating deals such as personal loans and credit cards, on your behalf. They can do this by arranging to freeze interest rates and reduce monthly payments. There are many solutions around to help with severe debt problems such as an IVA, debt consolidation, debt relief order, and debt management, depending on your situation. Talk about debt has a website that outlines the various plans and what is involved. Most importantly, get help before your situation gets worse: Inform yourself, read the fine print and shop around for a Debt Management Advisor that suits you.
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