About one in five Britons (Money Advice Trust data, University of Nottingham) are said to be having a difficult time handling financial obligations.  In 2011, there was a marked increase to 1.54 million (from 1.4 million) of people in the UK who have sought assistance from free debt advice agencies.

This is a worrying report since it is believed there is a much bigger population (about 10 million) of struggling and debt-laden Britons that have not actually approached a debt advice agency.  In addition to this figure, about 2.5 million people in the UK are overdue in the payment of at least one utility, consumer or household bill.   Difficulty of managing debt is a condition that is becoming prevalent.  With the continued rise in unemployment, slowdown in the economy and rise in consumer product prices and utility rates, more Britons are expected to be in need of debt advice and relief.  Year 2012 is not forecasted to be better than year 2011.

The rising unemployment rate has generated a big number of the population reneging on their credit card payments, loan amortizations and other financial obligations.  However, the availability of free debt advice services in the United Kingdom may not be known to many.

It is important that more public awareness is generated to ensure information and locations of free advice centres are disseminated.   A benefit of this is that the financial problem is not allowed to further escalate.  Some debt-relief options could be discussed, offered and applied.  In this manner, debt can be better managed and personal finances better controlled due to the recognition and wake-up call given.  Free, independent advice is provided by National Debtline, Citizens Advice or My Money Steps. 

However, for those seeking professional help which covers a more comprehensive guidance and insolvency protection assistance, MLM Solutions in Glasgow and Livingston can be contacted.  Its services include support in trust deeds, free debt advice, individual voluntary arrangement, company voluntary arrangement, debt arrangement scheme and business turnaround efforts.  It is also a service provider for those who have decided to file for bankruptcy.

If you would like to discuss your current situation with one of our trained consultants then please do not hesitate to give us a call on the number below or visit our website for more information.

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