Debt Management
This week on Life Matters we look at Debt management...
According to Alison Watson from the charity Shelter...the current financial crisis around the world doesn't help when it comes to options.
"This means it's dangerous for people to 'borrow' their way out of debt...we have spoken to many people who use their credit card to pay their mortgage repayment...If it gets to this stage it's much better to seek advice from us or one of the many organisations."
Re-possession is always a last resort in cases when repayments are not being met. Alison helps homeowners who are struggling because of reduced income
"We conduct an income and expenditure assessment...we then work out how much the person can afford to contribute to their Mortgage...many lenders would rather receive some kind of payment than none at all"
Take control of debt before it takes control of you!
If you need advice contact Alison or one of her colleagues at Shelter. Your local Citizen's Advice Bureau is available to give guidance on financial issues...and you can always contact the National Debt-line...run by the Money Advice Trust...the number is 0808 808 4000
Audio Features
Listen again to our on air features for this Life Matters article. Click on the 'play' link next to one of the titles to play that item.
PLAY > Debt 1
PLAY > Debt 2
PLAY > Debt 3
PLAY > Debt 4
PLAY > Debt 5
PLAY > Debt 6
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