MOTHERWELL families are living with more than £20,000 of debt, according to new industry figures.

Quarterly statistics from Scotland’s debt specialist Carrington Dean show that the average debt level in the city during quarter two of 2019 was £20,594 with thousands struggling to cover the cost of everyday essentials.

When facing debt, it can be all too easy to bury your head in the sand and ignore the elephant in the room. However, just as an elephant never forgets, neither do the people you owe money to making it imperative to tackle the problem head on.

Carrington Dean is proud to be a champion of straightforward, simple debt advice and has helped more than 24,000 Scots regain control of their finances.

As the largest independent provider of debt solutions in Scotland and the first Scottish debt solutions company to be authorised by the Financial Conduct Authority (FCA), the respected organisation helps hundreds of people every day – helping many slash their monthly debt payments to an amount they can comfortably pay.

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Easier than you think

Debt isn’t complicated. Falling into financial distress is easier than many might think and there’s no one size fits all profile when it comes to those struggling.

From soaring credit card bills to car finance payments and money for day-to-day life making a pay packet stretch can be a tough task for many across the country.

So where do you turn to for help when your monthly finances dry up? For many expensive payday loans or borrowing from friends and family are ways to provide instant relief leaving them with more to repay the next month and pushing them further and further into debt.

If you find yourself in this situation it’s important to remember that you’re not alone and there is a solution to help.

Ignorance isn’t bliss

Debt doesn’t have a day off. It’s relentless and at times all-encompassing as the companies and lenders you owe money to chase for that elusive payment.

The reality of debt is harsh. Creditors don’t care about whether you have a family to feed or personal commitments – they will continue to chase for what you owe regardless of your circumstances.

Ignoring your debt problems will only make them worse, with once manageable debts escalating from hundreds into thousands of pounds. The longer you leave a debt the more it continues to grow, and you’ll incur even more fees than before – from admin and late payment fees to debt collection charges.

Switching off from debt isn’t an option. Putting your phone on silent isn’t going to halt the chase, nor will ignoring bills and final demands. It’s a never-ending game of cat and mouse with only one winner at the end of the day – creditors.

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Helping you help yourself

No one likes to admit they’re strapped for cash.

However, by addressing the problem and being open about your circumstances you can change your life for the better.

Are you scared to check your bank account? Do you feel a sense of dread when your child asks to go on an expensive school trip? Are you anxiously awaiting a knock at the door from the sheriff officers?

There’s a tried and tested way to reduce your payments to an amount that lets you live again. You could legally write off up to 75% of your unsecured debts.

All ears

Carrington Dean isn’t afraid to address the elephant in the room. The experienced team appreciate that talking about debt isn’t easy but are on hand to offer impartial advice, free of judgement.

The organisation has helped more than 24,000 Scots manage their finances and shrink debts by up to as much as 75%.

Stop worrying and start living, find debt help and advice here. 

Click here for more details.