London, England. (PRWEB UK) 25 January 2013
The end of January is always one of the toughest times of the year when it comes to personal finances, the now well publicised "Blue Monday" heralds the arrival of credit card statements reminding us of the cost of Christmas.
However this year more than ever the financial strain of the festive period comes on top of record numbers of people already having to use credit cards, payday loans and other forms of short term credit just to cover every day living costs like rent, mortgages and utility bills.
As of November 2012 personal debt stood at an eye watering £1.42 trillion in Britain, this combined with ever-increasing utility bills, low savings rates, and tough lending conditions, meant that domestic budgets were already stretched to breaking point well before the festivities.
According to the Bankruptcy Advice Service's own figures enquiry levels for bankruptcy advice have been 200% higher since the turn of the year than during the fourth quarter of 2012. Meanwhile, access to trained professionals who can offer guidance has never been more limited due to budget cuts and the sheer volume of individuals looking for advice.
As a result BAS have released their "Definitive, Plain English Guide to Bankruptcy", at over 7000 words, this new Bankruptcy Guide is a complete reference tool, Tim McGarrity, of the Bankruptcy Advice Service, said: “The weeks that immediately follow Christmas are synonymous with austerity, but given the ongoing financial issues faced by the British economy overall, combined with impending changes to the benefits system the start of 2013 will be particularly difficult.
More so, analysts are pointing to ongoing monetary difficulties in the coming months and beyond. Considering debt charities and organisations were already suffering from a lack of funding and resources last summer the situation is only going to get worse.
“For this reason we looked to develop a well-researched and expertly written guide to all aspects of personal bankruptcy. In the past people have had to use pamphlets, leaflets and research online, to try and piece together information as to whether bankruptcy may be suitable for them. The BAS Bankruptcy Guide is also supported by videos and articles, which can be accessed for free via our website. In short, we’re looking to help people understand what solutions may be open to them in order for them to be able to make more informed decisions."
About the definitive Guide to Bankruptcy in England and Wales 2013
At 26 pages cover to cover the Bankruptcy Advice Service has produced the definitive Guide to Bankruptcy in England & Wales 2013. Written in plain English the guide is designed to help those considering bankruptcy, are frustrated with the lack of assistance from the free debt advice services and need professional help now.
The Guide to Bankruptcy in England and Wales 2013 is free to downloaded in pdf format from the Bankruptcy Advice website
About the Bankruptcy Advice Service
The Bankruptcy Advice Service helps thousands of people with debt problems every month, and operates on a principle of offering best advice. This includes a confidential, free telephone consultation with a professional Bankruptcy Advisor.
The Bankruptcy Advice Service will look at all the options available to you. If alternatives to bankruptcy exist these will be fully and simply explained, allowing you to take control of your debts and make the best decision for your financial future, if bankruptcy is the best option then they can hold your hand through the whole process.
The Bankruptcy Advice Service
145 - 157 St. John Street,
0800 357 9150