Personal debt has reached record levels in the UK. As a consequence, lots of people are signing up to debt management programmes to get their finances in order. However, as many have found to their cost, debt management doesn’t always solve problems – sometimes it makes them worse.
The stress associated with personal debt is clearly taking its toll: The Debt Counsellors Annual UK Debt Survey 2006 revealed that 63.3% of people seeking help for their debt problems believe they have suffered health problems as a direct result of their debts.
To relieve that kind of stress, many people take up the offer of a debt management programme, whereby a company takes control of a debt and deals with the different creditors in return for a set monthly fee.
Whilst this View the rest of this article
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