CAB is dealing 8,308 new debt problems every working day over the past year to September and someone declare insolvent or bankrupt every 5 minutes 12 seconds per day. These stark facts are very hard to swallow and it is very hard to realise when as much as we bury our heads in the sand, these situations could be very real for all of us very soon. As the rate of income and the eligible job opportunities are on the decline, it is hard to find the correct level of income to support the ever-increasing rate of expenses. When the cost of the average basic weekly grocery shop has increased by almost double and the extravagant lifestyles that we have become so used to are very hard to keep up with. Then a responsible and intelligent solution would be to sit down with all of your financial paperwork which includes pay-slip, statements, bills and benefit statements.When you have this information build a list of income and expenditures, a helpful form will be available online that will state all the possible expenses or avenues of income.

Using this information, it is easy to decide the correct level of disposable income and you can pay off your debts with this amount. It is important that you make a list of the different types and amounts of debt you have. Using this list of possible debt amounts then the next step is to divide the amount among the debt by paying the largest amount to the largest debt and the lowest amount to the lowest debt. The disposable income will be distribute in a pro rata basis.

The most important thing to do is to speak to all the companies you owe money to and confirm that they will be willing to accept the amount that you can afford to pay. This is the best debt solution to make sure you can become debt free as soon and as responsibly as possible. This is a very difficult thing to do as an individual,there are companies that can help you do this. These are companies that manage debt and have a solid and long-lasting relationship with a vast range of companies that you may owe money to. This long-lasting relationship allows the debt help companies to get the repayment amount successfully that which you can afford and are also more likely to confirm that you are paying no further interest on your debt. This company will then for a small fee collect the amount that you are paying towards finishing your debts and will distribute them among the companies you owe by an agreed date. This then takes away all the hassle of having to deal with these companies and ensuring that they are all paid.

Whether you use adebt management companyor make a positive debt solution yourself - the most important thing to remember is to not be lazy and face your issues head on. Be responsible and get your debt paid as soon as possible