Debt Line Helps 18,968 People Manage Their Debts

Debt Line Helps 18,968 People Manage Their Debts

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Debt Line Helps 18,968 People Manage Their Debts PR Newswire BOURNEMOUTH, England, June 18, 2012 BOURNEMOUTH, England, June 18, 2012 /PRNewswire/ -- Personal debt in the UK is growing but Debt Line offers a way out According

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Debt Line Helps 18,968 People Manage Their

Debts

PR Newswire

BOURNEMOUTH, England, June 18, 2012

BOURNEMOUTH, England

,

June 18, 2012

/PRNewswire/ --

Personal debt in the UK is growing but Debt Line offers a way out

According to Credit Action, outstanding personal debt in the UK was £1,459

trillion at the end of

April 2012

. This astronomical figure actually represents an

increase on

March 2011

, when personal debt stood at a collective £1,451

trillion, report UK debt management company Debt Line.

The UK's personal debt problem is huge; many families simply cannot cope and

one of the biggest areas of concern is credit card debt. Unsecured lending on

credit cards was £207 billion at the end of April and although this is a £3 billion

drop from

March 2011

the figure is still too high and it's putting pressure on

families across the country that are struggling to pay off high-interest loans on

credit and store cards.

As a nation, the UK likes to spend on plastic. In March this year the value of

credit card purchases was £1,325 billion. Combining mortgages, car

repayments and other loans, the average UK household pays £2,396 on interest

every year.

It's not surprising that with such huge debt repayments, some families fall into

arrears and end up owing even more. As a result their personal debt spirals out

of control and before long debt collectors are calling and credit ratings are

nose-diving.

Under these circumstances, the best course of action is to turn to Debt Line.

Debt Line is a UK debt management company that is currently helping 18,968

people pay off 10,9023 debts. Debt Line will set up personalised repayment

plans as part of its debt management services; it will set up one affordable

monthly repayment to cover all outstanding debts; it will deal with credit card

companies and repossession agencies on behalf of its clients; it will negotiate a

freeze on all interest and charges and it will set up an online account to help its

customers manage and deal with their debt.

Every four minutes and 35 seconds someone in the UK will be declared

insolvent or bankrupt; Debt Line can help prevent its customers from becoming

part of this statistic.

Michael Pursey

Richmond House

Richmond Hill

Bournemouth

BH2 6EZ

Phone: +44(0)8000-914-525