Debts.org Asks: How Did We Get So Deep In Debt?Category: Finance
Article added by: Debts.org Org
The UK’s leading independent debt resource centre debts.org asks: How has the UK moved from being a nation that held up thrift as a virtue and considered debt a vice, to owing a trillion pounds on mortgages, credit cards and other loans?
A generation ago borrowing money carried a heavy social stigma. To borrow was to admit to living beyond one's means. Britain's rigid class structure meant the bulk of people had little immediate prospect of securing higher paid employment. Today, with no house price boom or promotion around the corner to help clear the bills, debt can equal financial and personal decay. It is with little wonder that debt is commonly referred to as living on the never-never.
The euphoric spending culture over recent years is unprecedented, with banks, and even governments encouraging consumers to take advantage of economic stability and low interest rates. But few could have predicted how quickly the tide would turn, leaving many Britons left high and dry with mounting debt and confusion as to how to tackle the problem.
debts.org is an independent resource centre for people serious about sorting their finances, designed to increase consumer understanding across all areas of personal finance, as only the well informed can make the right financial decisions.
It will come as little comfort to those who are in financial turmoil, but there is one industry where business is booming. Debt collection agencies and bailiffs are raking in unprecedented sums from Britain's growing mountain of personal finance misery. Last year the agencies and bailiffs pursued no fewer than 20 million cases and the methods they used to squeeze money from people are so aggressive that experts ranging from the Citizens' Advice Bureau to members of the House of Lords are now calling for legislation to curb these excesses. A growing army of thousands of "debt chasers" is making millions from the misery of Britons who have spent years spending above their means.
Ryan Howsam, debt.org’s founder says: "Being in debt all to often becomes a way of life, but if you are really serious about getting yourself financially straight, debts.org is here to help, but the
first step is not to do the ostrich thing! Ignoring debt problems won't make your troubles go away in fact, they'll get worse. Taking financial control of your life far out ways the sleepless nights, the worry and stress of what the postman will bring tomorrow or who is knocking at the door.”
debts.org provides debt advice and solutions in all aspects of personal finance, from bank accounts and charges, credit cards, bankruptcy, IVA, as well as, loans and mortgages. So if you are concerned about your debt or would simply like to get the most from your money, then debts.org’s impartial advice can help as an information tool, dedicated to you the consumer.
Visit www.debts.org today.
Editor’s Note: debts.org is represented by online advertising consultancy, Top Position. Please direct all press queries to Billy Howe. Email: billy@topposition.co.uk or call: 0800 094 9001.
Posted By: Debts.org Org
Web: http://www.debts.org
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