Have you reviewed your financial situation since the turn of the year?
While there have been signs that the UK economy may be stabilising in the short term, many people are still burying their head in the sand with regards to their own financial affairs and hoping everything will "come right" in the end. However, even if the UK economy was to recover in the short to medium term there will still be a significant lag in the employment market with unemployment set to rise above 3 million in the short to medium term. Now is the time to look at your financial affairs and now is the time to take action!
It is easy to save money if you structure your financial affairs in a sensible manner, exchanging expensive debt such as credit cards and overdrafts, for longer term arrangements which are often offered at a fraction of credit cards and overdraft rates. A workable payment plan, no matter how long it takes to pay off your debts, is the only way forward and those looking to pay off their debts as soon as possible could find themselves in more trouble unless they are careful.
Long-term debt restructuring is more useful to lenders and to consumers themselves than trying to pay back debts at a rate which is untenable.
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