Getting debt advice helps people's financial situations.

A recent report has found that debt advice is working particularly effectively for certain groups of people in problem debt. Three months after advice, 60% of clients said their overall financial situation was better than before seeking advice. Even better, 12% said their debt problem was now completely sorted.

Many struggling with debt are still living on a knife edge.

The survey also showed that for most, including those with positive budgets, debt problems can’t be solved after just three months, and the severe impact of problem debt is still being felt at 15 months after advice. At three months, 14% of clients were still using credit, with 4% using it for housing costs and essential bills.

For many with additional vulnerabilities, particularly those who also have negative budgets, making ends meet each month can be difficult. More than a third (36%) of people with a negative budget and additional vulnerability said they don’t think they’ll be able to make ends meet.

Greater numbers of middle-class families are at risk of falling into debt.

The findings come after a decade of low mortgage rates.

9,510 people with net incomes above £40,000, a rise of almost a fifth in the past three years, sought advice last year.

Wealthier households with large loans may be unprepared for a change in circumstances, such as losing a job or falling ill, experts fear, after over-reaching themselves with commitments such as school fees or credit card

Their average credit card debt was £21,091, while their average total outstanding debt, excluding mortgages, came to £38,164.

The charity said that the most common reason for middle-class debt was a sudden loss of income, cited in 15 per cent of cases.

Getting good debt advice.

If you are struggling with debt problems, Ramsey Lomax can help. contact Ramsey Lomax.

Ramsey Lomax.

“over 12 years of dedicated advice.”

“People struggling with debt should seek help as early as possible.”

This is good advice from a leading charity.  Taking the first step is always difficult but it is vital.  There is help out there and solutions that can help, but you need to take the first step towards getting good debt advice.  We have listened to the stories of 1000s of people and are constantly striving to help them.  It is our mission to explore all their options and find a solution to help them become debt free. And what’s more, we have helped 1000s to achieve their goals since 2007, over 12 years of dedicated advice.

Find out how Ramsey Lomax can help you and if you qualify to write off up to 80% of your debts.

RAMSEY LOMAX – helping 1000s of people since 2007

Getting help with debt problems is ‘vital.’

Finding a good debt advisor is often a relief.  At Ramsey Lomax, we have years of experience in helping people.  One thing to remember is that your chat with our advisors is completely confidential, free and without obligation. For many of our clients just getting it off their chests and having a sympathetic ear to talk to can make all the difference. At Ramsey Lomax, we understand ‘financial fear’.  We have helped 1000’s of people to find a lasting solution to their debt.

Ramsey Lomax – fully authorised and regulated by the FCA, the Financial Conduct Authority. We also have a 5 star Trustpilot rating.

Taking that first step is not always easy but is a crucial step towards helping you to find financial freedom.

Who we are – RAMSEY LOMAX

Contact Ramsey Lomax here.

• See if you qualify for an Individual Voluntary Arrangement. An IVA is a government-backed solution that could write of up to 80% of your debts.  Please read below for more information about other solutions that may be available to you.