What is Debt
Lots of people are in debt for all sorts of reasons. Recent years have seen an increase in the level of debt in the UK. Since 2008 / 2009 we saw the largest Â increase in debt since the Bank of England was founded in 1694 with Britain’s personal debt increasing by approximately Â Â£1 M (million) Â every three minutes.
Once you get into unaffordable debt situation your credit rating will be affected, and this cannot be avoided
What is Debt?
Debt is a very immotive word isn’t it? You see it in the news everyday. What does debt mean?Â A debt is when you owe somebody money. Debts get bigger every week if you are charged â€˜interestâ€™. Â Interest is an extra charge on the original debt. Â Simply, debt is a description of money that you owe on a mortgage, car, Credit & Store Cards, Bank Overdraft and loans. All of it represents debt. As a nation, we owe many many billions / trillions of pounds.
BCADS can help you to climb out of the debt-hole, SoÂ
Seek help before its too late
Don’t borrow More
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