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Are you having trouble paying your bills? Being harassed by creditors and collection agents? Apprehensive about losing your home or car? Are debt problems taking a toll on you? Are you in need of debt help? Well, you’re not the only one facing it. Thousands of Britons are in financial hot water and require debt help. Whether the crisis is caused by job layoff, reduced wages, medical debt, credit card debt, mortgage payments or tax debts, it can be overwhelming. Here are some startling statistics to this effect.

Bright Grey, the life insurer brokers, reveals that 12M Britons (25%) are currently struggling to cope with their monthly bills and 39% would be in trouble if they had to find an extra £50 each month. Essential bills (rent/mortgage payments, utilities, food, household costs etc.) now account for 68% of household income (that is, £1,378 on average each month/person and £2,001 for families). According to PwC, on an average, each household in UK has total debt of around £60,000, made up of approximately £50,000 of secured debt and £10,000 of unsecured debt. These debt levels mean that the average household will need to spend approximately 15% of net income purely to service the interest payments arising from this debt.

It has been observed that people typically have multiple debt problems and require debt help ; in fact, debt has become entwined with their life. Help with debt is now available online from RedHouse Debt – get help coordinating with multiple creditors at the same time, mediating with them and buying more time to find ways to reduce your debts in a manner that is acceptable to the creditors and convenient for you. RedHouse Debt offers tailored debt solutions that reduce your monthly debt payments enabling you to become debt-free faster!!

Scary Statistics

Bright Grey, the life insurer brokers, reveals that 12M Britons (25%) are currently struggling to cope with their monthly bills and 39% would be in trouble if they had to find an extra £50 each month. Essential bills (rent/mortgage payments, utilities, food, household costs etc.) now account for 68% of household income (that is, £1,378 on average each month/person and £2,001 for families). According to PwC, on an average, each household in UK has total debt of around £60,000, made up of approximately £50,000 of secured debt and £10,000 of unsecured debt. These debt levels mean that the average household will need to spend approximately 15% of net income purely to service the interest payments arising from this debt.

Eroding Consumer Confidence

In tandem with this, the PwC Credit Confidence survey (conducted by YouGov, among over 2,000 UK consumers), brings to light that there has been a continuing erosion of consumer confidence regarding their ability to handle personal debt. Only 32% of respondents to this year’s PwC Credit Confidence survey strongly agreed with the statement “I am able to make repayments on all the outstanding credit I have” compared to a higher 56% in 2008.

Debt Solution

As a result, many Britons meet their downfall due to spiraling personal debts; hundreds of homeowners lose their properties every single day in repossession. These statistics might hit close to home for you but what can you do to avoid debt problems? Debt solution and debt problem are two sides of the same coin. While tossing a coin which side would you bet on! Luck has favored for the Britons who have considered giving www.redhousedebt.co.uk an opportunity to work with them. They help you come out of your debt problems and on to the path towards freedom from debt. Debt advice from www.redhousedebt.co.uk could be valuable resource; an increasing number of Britons are now seeking debt help from RedHouse Debt to manage their debt problems.