Adrian Nichols from local debt advice firm Evesham Debt Advisors writes for the Observer.
RECENT studies have found out of the 8.8 million people in this country, only 1.5 million are dealing with their debt.
That’s just 17 per cent of the population who are tackling their debt problems head on. But what about the remaining 83 per cent?
Debt is something that affects everybody, no matter what walk of life they are from.
With up to 2.4 million households in the UK struggling to make their finances stretch until payday it’s no wonder debt is a very real and growing problem.
It’s commonly believed debt is a problem mostly faced by younger generations, however the average victim is actually likely to be a homeowner in their early forties.
There are also a growing number of people in their sixties and seventies who are suffering from the crippling financial burden.
People dealing with debt are often afraid and ashamed and as a result will not share the problem with their family members, instead preferring to keep it to themselves.
They might be so afraid that they haven’t slept for months. They most probably ignore the post and jump every time the doorbell rings.
As a result, this silent struggle of debt has a detrimental affect on both physical and mental health, leading to stress and anxiety, depression, drug and alcohol dependency, marriage and family breakdowns, suicidal thoughts and, in extreme cases, suicide.
That’s why if you are struggling with debt it is important to get help and remember that you are not alone.
Knowledge is power, and by talking to expertly trained professionals who offer specialist debt advice you can take your first steps towards debt freedom.
Evesham Debt Advisors (EDA) has helped thousands of people in the UK and can help you tackle your debt monster head on.
EDA is authorised and regulated by the Financial Conduct Authority and the Debt Resolution Forum and the Association of Professional Debt Solution Intermediaries.
EDA can be contacted on 0800 472 5050 from a landline or 01386 760000 on a mobile.
Further free advice is also available from StepChange, The CAB and The Money Advice Service.