Debt Management Enquiries Set To Soar in January

The number of debt management enquiries is set to soar astronomically in January. That’s the message from Debt Connect, one of the UK’s leading debt management companies.

’Debt Management has seen a sharp rise since the downturn in the economy. This trend is set to continue over the next 2 years with a surge expected towards the end of January and February 2009, as the Christmas rush settles, and the realization hits home with many of the financially stricken. For many, increasing their credit, or taking out a loan, will simply not be an option anymore, as banks are now less willing to lend to and support their customers. This has left many with nowhere else to turn to, other than Debt Management’, says Karan Vij, Chief Finance Officer at Debt Connect.

The current economic climate has had a huge effect on the debt management sector. As consumers get themselves further into debt, due to the increasing cost of living, and major financial institutions are withdrawing credit agreements. For many, the best option to take is a debt management plan. Even though it is a less obvious route, it can actually be more beneficial than “simply getting another credit card”.

Debt Connect has been trading since October 2003. They successfully handle several thousand debt management cases each year and have a vast amount of experience in the sector.

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James Mace

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Lake Star Media

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