Change in personal circumstance

On July 7, 2011, in News, by admin

Have you recently suffered a change in your personal circumstances?

  • Sometimes a loan seems like the most feasible option to fund those large ‘one-off’ purchases.
  • The repayments are easily factored into the household budget and it seems to make the debt manageable.

However, redundancy, illness or just a change in circumstances can mean that your steady income fades away.

Sure the loan company showed understanding at first when you told them but by the time you missed the second monthly payment, they weren’t being so nice.

If you suddenly find yourself without a job or an income, it doesn’t necessarily change the financial pressures and outgoings that you had previously.  Without a steady source of income, budgeting for these outgoings becomes a struggle, and as paying utility bills and going round the supermarket take on more importance, it is often the debt repayments that make way!

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However, once you have missed the first payment, this only leads to further struggles! Fielding daily telephone calls, the letters and in many cases the feeling of embarrassment can make the situation seem worse than it is.

Fortunately, there are now various debt reduction solutions that are available for people.  Amongst these are Debt Management Plans, IVA or Individual Voluntary Arrangements and Debt Relief Orders, there are more but you could simply call each company that you owe money to and try to agree a revised payment schedule, that is known as self debt management.

  • If you feel that you can no longer manage to handle your personal debt on your own, then the time has come to take some positive steps to make things a bit easier.

Sometimes all we need is a bit of light at the end of the tunnel to allow us to concentrate on other parts of our lives.  Other times, we need more structured plans to help us get back on our feet.

Either way, if a change in your personal circumstances has caused you financial problems, then it might be time to get in touch with Lewis Alexander Financial Management. Our debt helpline is open for you to enquire 24 hours a day and all calls are dealt with in the strictest of confidence.  We use a variety of techniques and solutions to help our clients, so call today for a financial health check!

  • Our number is 0800 018 6868, one call could make a difference!

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