In today’s economy too many people are being forced to rely on credit cards to supplement their income. Unemployment, furlough days, and lay offs are prime.
The number of Kiwis vulnerable to high debt doubled in four years, the Treasury says, with one in five families spending almost a third of their income on debt repayments.
The interest rate increase is outrageous, but also notice that Mr.
Britain’s financial regulator plans to force mortgage lenders to check the income of all borrowers, scrapping so-called “liar loans” blamed for helping to fuel bad debt problems at the heart of the credit crunch.
Debt counseling and debt consolidation services are offered by various debt servicing agencies. You should be aware of the fact that these agencies are only a third person getting control of your already bad financial situation.
The may be helping you out but the are never sacrifing their own interests…