Focus On Personal Debt In Time Of Cutbacks posted on 25 August 2011 | posted in General Category  | ( 0 ) Comments The saying that a stitch in time saves nine may be so well-worn that it has almost lost its meaning but the argument that early intervention is preferable to last-minute action still holds true. As the UK faces up to public sector cuts the importance of helping people to tackle personal debt issues is coming into sharp focus. With job losses, pay freezes and benefits cuts likely to be a feature of the next few years, the repercussions will be felt far beyond the public sector. It's not just the public sector that will face cuts, the government is going to continue it's Legal Aid cuts sparking insolvency fears for legal firms and charities. This means there will be a definate cut back on debt advice given by charities such as the CAB and CCCS to name but a few. As well as reducing legal aid fees, the government's Legal Aid, Sentencing and Punishment of Offenders Bill proposes to save a further £350m by withdrawing legal aid from welfare, medical negligence, housing and family issues. The extra 10% cut will come into force in October for criminal and civil cases and next February for family cases, unless it is voted down by MPs.For example, some private firms are likely to face reduced income from public contracts which may lead to cost-cutting. As redundancies take effect many consumers who were coping with personal debt could suddenly find themselves out of their depth and unable to meet repayments, leading to debt problems with creditors chasing monies and even taking people to court to claim monies back. The hope is that private sector growth will offset public sector losses but how that will play out is unclear and only adds to concerns that we may be heading for a double dip recession. There is an even bigger need now provide support for people in debt and help them become debt-free. Speed is of the essence when it comes to personal debt. The sooner a debt problem is identified, the quicker a fix can be provided. By listening to peoples problems and giving good, fair and impartial advice we can act quickly to help them find tailored solutions to their debts. We cover the whole of the UK, and if yourself or anybody else you know is in need of debt advice we strongly urge that you contact us for professional advice on 01743 272900   Share this blog entry: Recommend this blog entry to a friend You can follow other blog entries via the RSS feed. You can also leave your own response. Site administrator reserves the right to reject any replies that are deemed inappropriate.

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