Serious Extent of Debt Continues to Increase

Debt can be considered a personal dilemma that one tries to keep a secret from their friends and co-workers to even their own family, but when a huge part of a certain population is in a deep hole of debt, who should take action? More and more people have to turn to borrowing money from lending institutions, how does this reality affect a country’s growth or even its future? Does it even an impact ?

Japan's Debt Problem Visualized

 

A short, visual explanation of Japan's debt crisis by Addogram.

Nine million in 'serious' debt across the UK - The Money Advice Service (MAS) also said very few people were making any attempt to get professional help. The problem is particularly acute in five English cities, where more than 40% of the population is struggling to repay debt.

Hull top of debt table: 'There's loads of debt everywhere' - "There's loads of debt everywhere," said one visitor to a food bank in north Hull, who added he was not surprised the city topped the debt league. "[People are] having to have loans to cater for the family - to just live basically - and it's getting worse."

One in five 'don't recognise' debt problem - Almost nine million adults in the UK are living with serious debt, according to a report. Figures out today from the Money Advice Service also showed that of those adults, only 1.5m are seeking debt advice.

25% surrender homes voluntarily in debt deals - Grant Thornton Debt Solutions, which operates as a personal insolvency practitioner (PIP), said before it submitted clients’ paperwork to the Insolvency Service of Ireland it engaged in pre-negotiations with creditors. In 80 per cent of cases it received approval in principle from stakeholders to do a deal.

Debt Analysis To Reduce Bill Payments - Refinancing your debts might be just right to reduce your monthly payments and get you back on track. These lenders help consumers reduce payments by paying off your high interest debt with a lower interest loan at better terms.

Debt is already a tremendous dilemma for one person to take, perhaps the best way to counter it is to ask for help and support from those you dearly trust.