Debt Management - Money No Object

When it comes to the issue of debt and debt management, it often assumed that the financially vulnerable are the sole risk. Research, however, shows increasing numbers of high earners struggling with debt management.

The impact of the debt crisis in the UK is clear to see but, generally speaking, it is often perceived that those who were already struggling financially would be most adversely affected by the tumultuous economic climate. A report on the BBC, however, suggests that an increasing number of high earning individuals are also finding debt management problematic.

Debt Management - The Higher You Climb

When it comes to debt management, many will seek the advice of financial experts in order to establish the best means of tackling their debts; whether this be in the form of an individual voluntary arrangement or via a debt management proposal. However, in what may come as a surprise to many, is the news that there has been a 10 fold increase in the number of high earning professionals who have turned to individual voluntary arrangements in order to try and get on top of their debt management capabilities.

Debt Management - Scaling The Debt Mountain

According to the report on the BBC, the number of people who earn over £30,000 and are struggling with debt management has risen massively in the last few years and, speaking to the BBC, Helen Saxon of CCCS, stated, "Accepted wisdom suggests that a take-home income of £30,000 per year is enough to allow most families to be able to manage the demands on their income. But large mortgages, rising school fees, keeping up with the Joneses and the increasing availability of credit have made debt a normal part of life for many of the middle class." The problem of debt management may be even more wide ranging than this as a report on a specialist IVA website shows that there has been 40 cases of people earning in excess of £50,000 requesting an individual voluntary arrangement as their debts become unmanageable.

Speak to Consolidate My Debt about Debt Consolidation

Consolidate My Debt are debt solution experts who offer a range of options to those in financial difficulty. Consolidate My Debt use fully trained debt advisors to ensure they find the right financial solution for you. Financial solutions from individual voluntary arrangements (IVA) to debt consolidation are offered and Consolidate My Debt can consolidate your debt into one affordable monthly payment. To find out more about the IVAs, debt consolidation and other financial solutions on offer from Consolidate My Debt just freephone 0800 158 3654 or email enquiries@consolidatemydebt.co.uk.

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