MANY PEOPLE HAVE FOUND THEMSELVES IN A SITUATION OF DEBT BALANCING THEIR DEBT FROM ONE MONTH TO THE NEXT

"ROBBING  PETER TO PAY PAUL" HAS BECOME THE MOST USED PHRASE OF THE PAST DECADE AS IT IS UNFORTUNATELY APT FOR MOST JUGGLING HOUSEHOLDS.

NEARLY 2,000,000 PEOPLE OWE AROUND £10,000 AND AROUND 500,000 OWE MORE THAN £20,000.  AT LEAST 70,000 PEOPLE LAST YEAR BECAME INSOLVENT.

 IT IS ESTIMATED THAT AROUND 120,000 PEOPLE WILL  DECLARE THEMSELVES INSOLVENT BY THE END OF THIS YEAR.

THE CONSUMER SPENDING ON LUXURY ITEMS HAS GROWN FAR QUICKER THAN THE RATE OF PAY.

DEBT IS NO LONGER AN EMBARRASSMENT AS IT HAS BECOME A COMMON PROBLEM AFFECTING MANY PEOPLE FROM DIFFERENT BACKGROUNDS.

MANY COMPANIES HAVE FELT THE NEED TO SECURE THE DEBTS AGAINST THE PROPERTY BY WAY OF ISSUE THROUGH THE COUNTY COURT BY WAY OF  A CAUTION AGAINST THE PROPERTY. THIS HAS BECOME A WORRY FOR MANY PEOPLE.  

MANY PEOPLE ARE FACED WITH A BOMBARDMENT OF TELEPHONE CALLS AND AGGRESSIVE LETTERS TELLING THEM THAT IN ORDER TO GET THEMSELVES OUT OF DEBT.

SOME ARE OFFERED TO RE-WRITE THEIR LOANS FOR A LOWER MONTHLY PAYMENT- BUT  INEVITABLY END UP WITH A LARGER AMOUNT TO PAY BACK - DON'T BE TEMPTED!

THE CONSTANT PHONE CALLS AND LETTERS CAN BE ONE OF THE FACTORS THAT LEAD TO THE STRESS, ANXIETY AND DEPRESSION.

FOOD, PETROL AND ENERGY PRICES ARE NOW ADDING TO THE STRAIN OF DAY TO DAY LIVING.