The article gives you some advice to Kick Debt to the Curb and Get a New Debt Free Life. Having suffered under the burden of debt for many years I wonder if there is anything more stressful. Knowing that you owe lots of money that you cannot afford to repay is a bleak situation. Fortunately debt management services were able to help me get control of my life again.
This freed me from the terrible cycle of debt and allowed me to finally start earning for myself again, instead of just working to pay off bills.
Debt Could Strike at Any Time
These days everyone is at risk from debt. With food and household bills increasing all the time more and more pressure is being put on monthly income. When my family was first growing up money was tight but we still managed to find a few pennies for some treats now and again. However now it seems like all our money goes on bills, bills and more bills. These days it is far too easy for you to tip over from managing your finances to being in debt.
This happened in my family when I was made redundant from my job. As the main income earner this immediately put our finances in jeopardy. I did manage to find another job quickly but it was at a reduced wage. Within just a few months I found I had to buy groceries on my credit card as my main income had been used up by essential bills.
Before long my credit cards had been maxed out and I was struggling to meet the repayments. I took out a personal loan just to afford Christmas that year and my debt really started to spiral out of control. I went from being in control of my finances to being deeply in debt in just 12 months. Debt could strike at any time and it is important to have some back-up plans in place to counter this and protect your family.
I knew I couldn’t afford to let my debt get any more out of control. Not only was this causing me a lot of stress but it was also making my life financially bleak for my family as well. I faced up to the fact that I had been unable to control my debt and reached out to a debt management specialist.
The great thing is that you can find debt management services online. This means you can contact specialists and get expert help from the comfort of your own computer desk at any time of the day.
Within a week I could feel the pressure of my debts lifting. My debt management advisor had put in place an easy to follow plan and had set up a creditor agreement. This stopped all the stressful phone calls and letters I had been getting about my debts. It also ensured that I had a repayment plan I could actually afford and this took a lot of the stress away.
The Way Forward with IVA
My debt management advisor talked over my finances with me and suggested an IVA. This is a legal contract that can be set up between you and all of your creditors. Basically it sets in place a new agreement which can reduce your repayments down to a level you can afford. This was ideal for me as I wanted to pay off my debts but just couldn’t afford the monthly repayments as they stood at the time.
- With the new IVA I could pay off the amount I could afford and also had a fixed period to repay my debts.
- This gave me hope as I had a real date that I could work towards when I knew may debts would be repaid.
- Another key reason for taking out an IVA was to protect my home. I had been struggling with mortgage repayments and this had put my home at risk.
- With the IVA I knew my home was protected and this was like a huge weight lifted from me.
- Thanks to the help of debt management specialists I was able to start working positively to conquering my debt.
It has taken a long time and a lot of hard work but at last I can see light at the end of the tunnel. Debt is no longer controlling my life and for the first time in many years I feel like I can actually break free from debt once and for all.