3 more reasons why we’re running Debt Awareness Week

posted by in Budgeting

We’re coming towards the end of Debt Awareness Week, and what a week it’s been. The amount of debt we’ve dealt with this week now weighs in at over £203 million.

The support we’ve received for Debt Awareness Week has been nothing short of amazing. There’s still more work to be done, as these three client stories attest.

Client quotes obtained in debt danger signs survey, Dec 2013.

Reason #10

“I’d move debt around between deals offering interest free periods, but all the time the debt amount was steadily rising.  When the interest free period was running, I wouldn’t reduce the principal, so when the incentive period was over, I’d just have a higher debt to repay.

I wish I’d asked for help sooner. If I did, I wouldn’t of been in as much debt as we ended up in and would have been debt free by now.”

Reason #11

My advice? Deal with the problem objectively and don’t put it off.  The longer you leave it the more debt you will get yourself into.  Realise that there are people that can help and it doesn’t matter how much debt you are in – there are ways round it.

In hindsight, I should have taken care of my household budget more than I did. Entering data on a spreadsheet or finance application is not enough if you don’t take ownership of the information and take steps based on it.

Reason #12

We used a secured personal loan with a company that raised the offered interest rate just before we signed.  we were so desperate that we still signed for the loan anyway.

Consolidating our debts seemed like a sensible way out.  It gives you breathing space to kid yourself that the problem is under control when it isn’t. I wish I had made every effort to budget properly.  I also wish that when we had a better income we had put something away for ‘a rainy day’.”

If you relate to any of the stories above, or any of the others we’ll add during this week, use our Debt Danger Signs test to see if you need debt advice.

At StepChange Debt Charity we want you to be free of debt and save money.

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