Debt Consolidation – A Matter of Life and Debt
The saying goes that a man's home is his castle. Losing your home can be devastating – impacting on your identity, status and that all-important sense of safety, routine and continuation that your children need. Without effective debt consolidation solutions, mortgage arrears can swiftly turn into unstoppable repossession orders. Losing your home can impact on your future outcomes – you are more likely to slide into poverty if you don't take crucial debt management and debt consolidation steps.
Debt consolidation – stop repossession
The huge rise in repossession risks has led some charities to approach mortgage lenders in a hope to help homeowners in debt. Shelter has asked for a new system to help homeowners in arrears to try and stop repossessions – which have reached their highest levels in the UK for eight years. As it stands however, debt consolidation and urgent debt management plans are necessary to stop the rigorous approach lenders currently take to those struggling with debt.
Dealing with debt – the increased repossession risk
House repossessions rose by 21% last year and the Council of Mortgage Lenders predict this figure will rise. Shelter believes many lenders are not encouraging those in debt to explore other avenues to avoid repossession. Debt consolidation and debt management strategies could help some homeowners dicing with debt. The situation is expected to be exacerbated as more homeowners come to the end of their fixed rate mortgage deals this year. For some, that could equate to another hundred pounds or so a month on top of their outgoings – unthinkable for those juggling debt. Debt consolidation is one way of taking control of your finances, ensuring you don't have to lose your home.
Face up to debt stress with debt consolidation help
Debt can cause huge stress and anxiety. Many people who need debt consolidation solutions are not in debt because of a champagne lifestyle or extravagant spending but because of poor fortune such as illness, redundancy, divorce or bereavement. Debt consolidation offers one way of helping homeowners stay afloat at particularly vulnerable times. There is a stigma associated with debt, but as debt affects the majority of UK citizens, it's crucial you don't ignore it, put your head in the sand and take no action – debt consolidation or a debt management strategy from experienced financial advisors can help. Do something – today.
Speak to Kensington Finance for debt consolidation and debt management solutions.
Kensington Financial Management Consultants Ltd is a total finance solutions company helping people all over the UK. We speak financial sense. We will allocate you a friendly advisor who will chat through your current situation and formulate a plan for you without obligation. Let us work out a financial solution based on your individual circumstances. It's our aim to help everyone who contacts us. With debt solutions from debt management and IVAs, mortgages & re-mortgages, secured & unsecured loans and advice and information for debt consolidation, bankruptcy and Trust Deeds, we can help. It really is worthwhile giving us a call or applying online today for a confidential chat with one of our friendly advisors. Call FREE on: 0800 096 4409.