Many families are struggling to find the money to meet their basic needs. With the average UK household owing £6,600 in consumer credit debt, without including mortgages and property debts, the UK's debt crisis is far from over.
With rising living costs, welfare support cuts, and the spiralling costs of renting privately, many people are being forced to borrow just to meet their basic needs. As anyone who has run over their overdraft knows, bank fees of up to £105 a week can quickly turn a small debt into an unmanageable one. Credit cards, store cards and payday lenders can all offer a temporary way to meet an immediate need, but prohibitive interest rates and lenders intimidating tactics can leave vulnerable people much worse off in the long run. Being unable to meet basic living costs is leading to real problems for the British public - court records for 2015 show that on average 25 properties are repossessed and 737 families are evicted every day.
It is important to get help as soon as debts become a problem. If it's necessary to borrow to pay back other debts, repayments have become a struggle, or if a person feels out of control with their borrowing, it's time to seek help. Advice on how to deal with problem debts are available from charities or from registered debt advisors. Local debt advice agency Hamilton Price are offering free walk-in debt advice clinics from their offices located at Churchill House, Burnley for anyone struggling with debt. Hamilton Price's director, Azhar Ahmed, had this to say: "Dealing with debt alone is stressful and can lead to individuals being pushed into options that aren't always right for them. Debt can cause serious problems, but it's important to remember that there is always a way out of debt. No one should feel trapped with unfair debts they can never repay."
Whist there are dozens of different ways to deal with problem debts, the majority of solutions involve stopping ever increasing interest and bank charges, committing to an affordable repayment plan, and writing off any debt which cannot be paid back within a reasonable time frame. This has led to UK banks and building societies writing off nearly £800 million worth of individual borrowing last year.
Hamilton Price's advice clinics are open 10am - 6pm Monday to Thursday, 10am - 2pm Friday, and 10am - 2pm on Saturday. The clinics take place at their offices, at Churchill House, 60 Bank Parade, Burnley, BB11 1TS, near Burnley town centre.
Or you could always call them on their free phone number: 0800 088 2599
Visit http://www.hamiltonprice.co.uk for more information on how Hamilton Price could help you.