Will temporary payment holidays create the perfect debt storm for households? -

Debt Advisors expect unprecedented surge in demand for advice.

Good debt advisors, like Ramsey Lomax, who offer free and comprehensive advice understand what people are going through and are getting ready to help those people who will be struggling with debt and suffering financial stress and anxiety.

Debt advisors and debt providers have warned There may be unprecedented demand for help when all the financial relief for individuals affected by Covid-19 ends this year.

This was one of a few warnings from debt providers, who’re seeing spikes in calls, referrals and online enquiries.

Debt advisors are expecting a huge surge in demand for debt advice when the current temporary relief being offered by lenders comes to an end.

For people who were struggling with debts before the crisis, a delay in seeking advice will only exacerbate their problem.

or Credit Strategy for the last ten years.

Whilst for some the need for a payment holiday can be a welcome temporary relief, looking ahead to a world after coronavirus will cause financial stress and anxiety for many.

With millions of households already struggling to make ends meet before the crisis, the next few years could be even tougher.  Availability of credit is already an issue for many working families living with poverty.  It is unlikely to get any easier.