Debt Management Solutions
According to the office for budget responsibility's March 2022 forecast, household debt of all types is forecast to rise from £2.019 billion in 2020 to £2.447 billion in 2025.*
289 People a day were declared insolvent or bankrupt in England and Wales in November to January 2023. This was equivalent to one person every 4 minutes and 59 seconds.*
7.6 Properties were repossessed every day in July to September 2022 in the UK, or one every 3 hours and 9 minutes.*
34.4 Mortage possession claims and 27.0 mortgage possession orders were made every day in England and Wales in October to December 2022.*
With this level of debt and insolvency or bankruptcy, access to effective debt management solutions is crucial. If you find yourself in a position where borrowing more money to consolidate your existing finance is becoming too expensive, or if you are no longer able to arrange more credit, you may well be eligible for a debt solution. If you cannot afford your debts, bankruptcy doesn’t have to be your only option. Are you aware of the debt solutions available within the UK, including debt management plans or IVAs (Individual Voluntary Arrangements)?
If you have a need in this area we have access to specialists that we can refer you to for advice.
Contact us for more details.
Debt Management is referred to a third party. Maine Financial LLP and First Complete Ltd are not responsible for any advice received from the third party.
*Source: The Money Charity, 2017.