Relieve Your Debts!

Business owners are increasingly taking on personal debt problems in order to keep their companies viable, according to new figures.

The Centre for Economic and Business Research (CEBR) conducted a survey recently in which 47 per cent of respondents admitted that they were forced to use their own cash to keep themselves in business this year.

Other results of the survey were just as worrying, as:

• More than 25 per cent of business owners said they had taken on credit card debt or made use of personal overdrafts in order to help their companies stay afloat
• 22 per cent relied on loans from banks or building societies
• 27 per cent were forced to ask their friends and family for debt help or other financial support
• 13 per cent took the drastic step of remortgaginwg their homes

Researchers also found that the average amount raised by any of the above means was £20,400, and that nearly 90 per cent of small business owners think that the UK is an unbearably expensive place to do business.

The price comparison service Make It Cheaper commissioned the research, and the company’s managing director Jonathan Elliot commented on the findings. He

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According to the Citizens Advice Bureau (CAB) in Oxford, the number of people who are worried about debt problems, repossessions and homelessness in the region have increased dramatically this year.

The data gathered by the charity shows that there were 230 more enquiries in the first three months of the financial year compared to the previous year. Compared to the 641 enquiries made in the first few months of 2010, the CAB recorded 871 this year.

The number of people with housing enquiries, including people who either needed help with homelessness or who were facing eviction or repossession, rose sharply in the first quarter of the year.

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When faced with debt problems, people have a tendency of avoiding proper action until it is too late and the debt accumulates to an amount that they are no longer able to afford. This is, however a very bad idea, especially when debt problems are not as hard to fix as they might seem.

One of the things you can do in order to solve your debt problems is to do a little research on the internet and find a loan company with a better repayment plan, better rates and terms than your current loan company and apply for a consolidation loan. Make a list of the companies in your area that provide the best conditions and then compare their rates in order to find the one that best suits your needs. Full Post…

A new study has revealed that debt problems are having a ‘severe impact’ on people’s lives and can affect their health, job performance and relationships.

The survey, which was carried out by the Consumer Credit Counselling Service (CCCS), found that 83% of people who had sought out financial assistance said that their debt problems had has a negative impact on many aspects of their lives.

Relationships were the most affected area with more than one third saying that their relationship with their partner had been affected by debt worries, while a further 22% said that their financial problems had affected relationships with their children.

According to the research only 34% of people surveyed said that they had revealed the extent of their debt problems to their partner. 20% o

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