People all across the west are looking for ways to improve their financial situation after an expensive holiday season, 2018 being less than previous years, but still enough to put people in debt.
As with every December period, households have a habit of overspending at this time of year, with the average figures across all people (per person) comes in at a total amount of £538, the British consumer often turns to any available means of credit be it store cards, credit cards or small personal loans, which often leads to heavy bills in the new year.
People are dealing with new year bills and expenses in a variety of ways, debt solutions, following up on miss sold claims, reduction of outgoings, lifestyle sacrifices and other ways of living within means.
Payment protection insurance claims (PPI claims) – With so many people (especially in the UK) having been miss sold payment protection insurance, there remains a huge amount of people who still haven’t claimed compensation, the deadline for this will be until August 2019, more information about the deadline and also how far back you PPI claim can go can be found here.
According to this page, it’s also possible to reclaim PPI compensation without account numbers or paperwork.
Consumers who have been miss sold this popular insurance can either make a claim themselves or use a high quality ‘PPI claims company’ for their convenience.
Another way people are looking to improve their financial situation is by signing up to a debt solution such as an ‘IVA’ (Individual Voluntary Arrangement) or a ‘DMP’ (Debt Management Plan).
Both of these different products are popular financial services that are commonly used by consumers struggling with £5,000 of debt or more.
Consumers can find out more about the IVA here.
Another common way people in debt are finding ways out of the debt driven rat-race is claiming back compensation for miss sold investments, with a boom in people searching for legal services for miss sold SIPPs (Miss Sold Self Invested Personal Pensions), people are finding out more and more that if they have invested in unregulated investment schemes & lost money as a result, or if they have been given bad advice by IFA’s (Independent financial advisers) they could be due a sizable amount of compensation from the FSCS (Financial Services Compensation Scheme).
More details on SIPP Claims is available here.
Advertisements on the TV, Radio & Online all show ways in which people who overspent over the holidays can free themselves of the debt burden, with the average household spend for December being predicted for at least £166 per person on groceries for the holiday period alone.
All in all, the UK consumer (in part due to Universal Credit, and missed benefit payments due to sanctions) is currently in a short term state of financial recovery after the most expensive time of the year, with many people looking for ways to cut household bills, reduce debt, and claim compensation wherever possible in order to boost disposable income.
Media ContactCompany Name: DebtSolve.UKContact Person: James ThomsonEmail: Send EmailPhone: +447447446084Country: United KingdomWebsite: http://www.debtsolve.uk/
