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| Coping with the Credit Crunch |
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What can you do if you are drowning in debt and do not know where to turn!
DO NOT be an Ostrich and bury your head in the sand. |
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 Hi,
My name is Jeff Davis, I am nuts about sport and run a website www.nutsaboutsport.co.uk Cricket is my real passion and if you want some cricket tips visit www.nutsaboutsport.co.uk/cricket_tips.html
In a previous life, I was a mortgage adviser and a financial management consultant. I came across many people looking to remortgage that were in debt and not recognising the situation they were in. I was an honest adviser and would not be prepared to help them remortgage and would very often advise them to see a Debt Management Counsellor.
The sad thing is that there were (and probably still are) a lot of dishonest mortgage brokers out there who would not hesitate to take their money and put them in what would become a worse position than they were already in.
A good Debt Management Counsellor will take a look at the income and the true expenditure and will then talk to all the lenders to come to an arrangement to allow affordable monthly payments. The main aim will be to keep up monthly payments on the mortgage and any charges on the home whilst reducing other payments to credit card debt which is where much of the problem lies. Banks have made it too easy for their customers to rack up high balances on the credit card that will never be paid back if only making the minimum monthly payment.
If you know of anyone that you think might be burying their head in the sand, speak to them and suggest that they see a Debt Management Counsellor. If you dont know one, I am very happy to recommend one. Contact me through Breeze and I will give you the contact details.
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