Charity Consumer Credit Counselling Service?s Jonathan Chesterman has said that if you?re struggling to pay off debts, keeping creditors informed could ease some of the pressure.
Last year CCCCs helped almost 370,000 people with money troubles, with 25% of the figure consisting of people subject to unemployment and redundancy and a further 25% subject to reduced income. 10% of the figure sought advice due to bad budgeting
Mr Chesterman claimed that in cases of debt with banks and other commercial companies if there is pressure to pay off financial debts then it is worth keeping the creditor informed. He said if creditors know the situation they will be aware of your financial troubles and understand what?s going on, this may encourage them to relieve some of the pressure on the individual as well as giving them confidence that the debt will be paid off when the individual has the money.
In cases where this fails and the debt pressures remain the same, debt advice is always a good option, as debt charities and companies can look at your finances and clearly outline the best way to manage your situation.
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