Are your creditors threatening court action? Getting good early advice could save you £££’s and heartache.

July 30, 2007 on 10:39 am | In Debt Management

Well I was right about the impending interest rate rise. Bank rates went up to 5.75% in early July and I see no reason why they will not rise again to 6%. Here at Simple Debt Solutions, we’re now seeing the early effects of this rise - our debt advice team have already registered an increase in call volume from people seeking help.

They’ve also noted that an increasing amount of callers are reporting that their creditors are resorting to court action rather than negotiate to settle outstanding debt. I’ve had a look into this and it seems that the number of county court judgments (CCJs) for non-payment cases has risen to a near 10-year high. A total of 247,187 consumer debt related CCJs were issued in the first three months of the 2007 - the highest quarterly total since the summer of 1997.

This is very concerning. Court action adds greatly to the costs and distress faced by people in debt, so it’s vital that you seek debt advice as soon as possible - please don’t let the problem snowball out of control. We know from experience that the longer you leave your debt problem, the worse it will get.

To cope with the increase in demand for our debt advice, we’ve extended the opening hours of our call centre. You can now call our team all weekend from 9.00am until 9.00pm on 0800 3895959.

 

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