Glasgow, Scotland – Doncaster has been revealed as among the worst places for debt in the United Kingdom. Many people in the town have higher levels of unsecured debt that is 18 percent more than the national average as per the recent UK Personal Debt Index. The people are seeking help with their personal finances and Creditfix can help.
“The higher level of personal debt in Doncaster is a worrying statistic,” said Creditfix CEO Pearse Flynn. “Payday loans and credit card bills can become the norm for many people, and if help and advice isn’t sought quickly enough, debt levels can easily spiral out of control.”
An unsecured debt is money owed to creditors but is not guaranteed by an asset, such as a property. Most of these are payday loans and credit cards. The average of unsecured debt in Doncaster is £17,720. UK’s biggest insolvency practice, Creditfix compiles the PDI figures quarterly, after a survey that involved more than 36,000 people. The report showed that almost half of the population in Doncaster seek help before the age of 36. Seventy-two percent are aged 20 to 25 while 42.2 percent are aged 26 to 35. The data showed that there are few elderly people who seek help, at only 1.2 percent while the national average is 2.7.
A Doncaster woman disclosed she accumulated over £10,000 when her credit cards and payday loans ballooned. Speaking of her misery, she put the blame to the loneliness of working 130 miles from home. She did not find a job in Doncaster, and accepted one near Luton. The woman shared her working far away from home contributed to her debt. While on her own, she felt isolated, and spending on material possessions made her feel better. She got a payday loan which payments she managed at first but became a struggle later. She then got a credit card and a similar thing happened until her debts grew. The woman tried to get on top of her finances but still struggled. The woman entered into an Individual Voluntary Arrangement after debt management. She will continue with her IVA for the next four years.
It is important to seek help immediately to get debt under control. Creditfix is located at 4 West Regent Street, Glasgow, G2 1RW.
With questions or concerns they can be reached via phone at 0141 565 1300 or via email at: email@example.com
For more information, visit Creditfix on their official website at: http://www.creditfix.co.uk/
Company Name: Creditfix
Contact Person: Pearse Flynn
Phone: 0141 565 1300
Address:4 West Regent Street
Country: United Kingdom