Unemployment vs Debts

As the current research and studies show as the unemployment is again increasing, as many individuals are loosing their jobs or are unable to work due to disability or any other reasons, debts have become more of concern for people.

The New Year, as well, has arrived with a record increase with petrol and VAT, while the mortgage lenders are also making it difficult to get money for refinance.

All this will surely result in a crease on your forehead and might as will be giving you sleepless nights and even though you may not be sure about whether your job is in danger, you can sure be ready for the worst, if it was to arrive.

It is important, to ensure that if you loose your job you ensure that you reduce, if possible completely stop, to live on credit. This can be difficult, as even people who are full time employed will find it extremely difficult to cut down on their usage of overdraft and credit card. However, you must stop using these services incase you are unable to pay for them. It is also important that one must create an emergency fund for at least 6 months, enabling you to pay your bills and debts on time even if you lost your job or is unable to work.

It is also equally important to keep a realistic view about the number of cards or overdrafts, one must use, as these will in turn become debts incase they are not dealt and paid on time.

If you lost your job already, then you might find it difficult to put these suggestion to actions and hence you should call us on 0800 135 7143 and agree a Repayment Management Plan i.e. RMP, according to your affordability and situations.

When in financially trouble, what makes you worried more than even a job interview would calls from your creditors asking for payments or starting up legal proceedings. When its a call between unemployment and debts, the one at a loss will only be you.

Best suited to individual, who have low income or have lost job, a RMP will help you to manage your debts even with less payments and will lift the pressure of dealing with your creditors.

RMP is one plan that is not just for the time when you are on a low income scale, but for those as well who have a lot of commitment but not enough funds to satisfy them.

This program will help you to deal with your debts and will also allow you the piece of mind that comes when your finance are managed, logically and realistically.

Contact us on 0800 135 7143, for a free assessment of your income and expenditure. Our Advisors will be more than happy to provide a free offer of payment and an array of suggestions best suited for your profile.

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