ECASU

The national debt charity Credit action has revealed that while individuals are still borrowing money the actual rate of borrowing has slowed down. With personal debts in the UK totalling over 1,400 billion by March 2009 this is a huge sum of money to be paid back. Many of course struggle to repay their unsecured debts such as from credit cards and unsecured loans; however there are steps that anyone can take towards reducing and eventually paying off their share of debt and one of these is to consider a debt management plan

Its a frightening thought when you consider that during the month of March alone the rate of personal debt increased by 1 million every hour. However even more astonishing was the fact that in Jan 2008 this amount of debt was increased every 5 minutes! Without mortgages being taken into account it is thought that on average each household holds debt of over 9,000. This is just from credit card, unsecured loans, and catalogue and store card debt.

Is there any wonder that so many individuals struggle to repay their debts each and every month?