GET OUT OF DEBT & CLEAR DEBTS
HOW TO GET OUT OF DEBT AND HOW TO BE DEBT FREE

The UK is a nation which has become saddled with more debt than most developed countries' economies - it's simple that we really need to get out of debt.  We all share some form of debt burden (even if it's just a mortgage or a car loan, as it takes money out of our pocket, not put it in) and this webpage will help you devise a plan to get out of debt. By following some or all of this advice, you can clear debts quickly, or you could use debt consolidation companies or charities.

Firstly, we need a scenario. I'd like you to imagine a hard-working mum of 3 children called Jenny. She is married and she has a joint mortgage with her husband, a car loan (owing £5,000) and 3 credit cards that are maxed out at £2,000, £3,000 and £4,000 each (totalling £9,000). She also has a store credit card which she owes £1,000 on and an account with a retailer where she has recently bought a new LCD TV on credit for £500 (as it "would have been nice for the kids to watch it over Christmas" as she put it).

Now all this is was just about manageable (but not ideal), until both their incomes were frozen and her husband's job was also now beginning to look uncertain.  Her own employer was freezing her pay due to the tough times the company were facing ahead.  On top of that, inflation is constantly eating away at how much Jenny's family can buy each year that passes whilst their joint income remains the same.  Jenny thankfully realises something very important - she needs to do something now to get out of debt and needs to learn how to get out of debt fast!  She needs to clear debts as soon as possible.  Unfortunately, like many Britons, she and her husband have no savings at all due to their level of debt curbing their ability to save any money at all.

So, here 's a summary of Jenny's situation:

Income available to clear debts (after living costs taken into account): £600

Jenny's family have £600 to clear debts each month.  Considering the amount of debt they have, this can actually be done.  See the next page to discover how to get out of debt.

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