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Debt counsellors ready for surge in new year

The debt counselling sector is set for a surge in demand in the New Year with as many people return to reality after the demands of the festive period. This year more than any other year will see more and more of the UK population heading towards serious financial distress with debts rising and income levels under pressure. We should begin to see a constant growth in IVAs and bankruptcies over the coming months as banks continue to turn the screw and consumers struggle to fulfil their demands.

Many in the UK forget that there are options for those in serious financial trouble and while the likes of bankruptcy may be extreme for many, financial institutions across the country would rather receive a workable repayment plan than write off possible substantial debts. However, it is vital that those who are in trouble or approaching trouble act as early as possible to give themselves more chance of a successful and less painful outcome. Hiding your head in the sand does not work in the current market conditions as even the investment in their homes will not be able to save many across the country.

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