Debt Management - Children Paying the Price

According to a report on the BBC, children are amongst the most adversely affected by the debt management problems of their parents and the number of children living in poverty has risen for the second year in a row.

Debt management is especially difficult for those who also have families to support and, according to the report on the BBC, the fact that the number of children living in poverty has risen again threatens to jeopardise the government’s aims to halve child poverty by 2010. The various financial factors resulting from the credit crunch, such as the stagnating housing market and the uncontrollable rises in the cost of living have combined to make debt management plans ever more difficult to adhere to in the face of massive financial pressures.

Debt Management - Financial Arrears Aren’t Child’s Play

According to the report on the BBC, the debt management crisis that has seen the number of children living in poverty increase again doesn’t even take into account mortgage and rent payments which, when bought into play, are likely to see the problem being even more profound. Speaking to the BBC, Kate Green, head of the Child Poverty Action Group, states, “The government should spend at least an extra £3bn a year on benefits and tax credits to meet its promises on child poverty. Ministers cannot take a holiday from their promise to end child poverty, or this is what happens.” The debt management concerns being faced by families up and down the country can prove very stressful and many will seek to end the uncertainty surrounding their finances by seeking expert advice from debt management professionals.

Debt Management - Securing Futures

It is an unfortunate consequence that many families on low incomes are struggling to make ends meet each month and many debt management plans were thrown into disarray when the affects of the credit crunch began to be fully felt in early 2008. However, many who aim to get their finances back into the black are discovering that schemes such as a debt consolidation loan or a professionally planned debt management plan can prove highly successful in overcoming all sorts of financial arrears and help to allow families to move forward and children to be removed from poverty.

Speak to Consolidate My Debt about Debt Consolidation

Consolidate My Debt are debt solution experts who offer a range of options to those in financial difficulty. Consolidate My Debt use fully trained debt advisors to ensure they find the right financial solution for you. Financial solutions from individual voluntary arrangements (IVA) to debt consolidation are offered and Consolidate My Debt can consolidate your debt into one affordable monthly payment. To find out more about the IVAs, debt consolidation and other financial solutions on offer from Consolidate My Debt just freephone 0800 158 3654 or email enquiries@consolidatemydebt.co.uk.

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