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York Company Has Alternative Solution to Debt

Posted 21st April 2010.

A York business helping those in debt is experiencing increasing demand for its new service which uses the principles of Transactional Analysis to assist clients alongside more traditional methods of debt management. As well as helping its clients to deal with their overspending, York Debt Solutions can, where appropriate, arrange for them to receive personal sessions with specially trained counsellors.

The companys owner, Anne Jones, says Although many people are presently facing financial hardship due to circumstances beyond their control, such as redundancy, others often place themselves in debt as a result of negative behaviour patterns. Some people are simply unable to live within their means or are compulsive shoppers; studies indicate that as many as one in twenty of us simply cannot control the urge to shop!

Life-changing events such as redundancy, bereavement or moving house may also cause people to overspend. Helping clients to explore and identify the cause of overspending enables them to come to terms with their debt situation, at which point action can be taken to resolve matters. All too often people want a quick debt solution and might decide to enter into either IVA or bankruptcy, which could impact upon future job or mortgage applications.

Anne continues People are often inclined to blame their bank or credit card company for their predicament, but agreeing to take on further debt is a matter of personal choice. Ultimately, people need to take personal responsibility for their own decisions. Once they have accepted their situation we are able to help. Unfortunately, the longer people remain in denial, the more financial challenges they encounter. At York Debt Solutions we suggest clients take appropriate action to prevent the same thing happening again in the future and can provide them with details of professionals who can help them.

Anne attributes the rise in demand for her companys services to the ongoing effects of the recession, as well as the Governments recent announcement of a range of new initiatives aimed at encouraging people to seek debt advice. A new report from accountants PriceWaterhouseCoopers states that levels of bad debt in the UK are now historically high and that credit will become increasingly difficult and costly to obtain in the near future; it is therefore likely that an increasing number of people will seek help from companies such as York Debt Solutions.

Anne adds Many people, especially professionals, are embarrassed to ask for help with managing their debt; they think that as respectable members of society in all other ways they should be able to deal with it themselves! Others are afraid of being declared bankrupt or being forced down the IVA route. However, I have found that unless people are in really serious debt this can, thankfully be avoided. The important thing is that people dont bury their heads, but seek help before things spiral out of control.

Anne launched York Debt Solutions in 2009. She is a former Citizens Advice Bureau debt adviser, has studied law, and has an interest in psychology. Anyone interested in making use of her services with or without personal counselling is welcome to contact her for a free initial consultation.

ENDS

For further information please visit www.yorkdebtsolutions.co.uk.

For further editorial details please contact Angela Shepherd at CopyCat on 07885 207212 or email angela@thecopy-cat.co.uk