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Two Thirds of Irish People Not Aware of Solutions to Help Them with Debt

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Two Thirds of Irish People Not Aware of Solutions to Help Them with Debt

Debt is a scary word in itself, so it’s only understandable that those suffering with the burden of debt will feel anxious and confused as to what can be done to rectify their issue. Evidently, it would be simple to say to seek help, but not everyone is as forthcoming with their financial problems, or even know that there is help available. In fact, it has been reported that two thirds of Irish people are suffering in silence when it comes to their financial affairs.

 

Why Are So Many Struggling?

While it can be easy to assume that those who are in financial distress are wreckless with money, it can simply be because there isn’t enough of it to go around. It isn’t unusual for many to keep their financial concerns to themselves, often assuming that it’s their problem, so only they should deal with it. Similarly, there are those with good intentions of rectifying their current situation, but just don’t know where to turn when it comes to locating the help.

Embarrassment can also be an underlying factor, as there can sometimes be a stigma attached to those in debt. However, if we’re not able to take advantage of the help available, and we’re not able to deal with the problem ourselves, then the problem is only going to get worse. While not dealing with debt may only mean a series of overdue letters to some, others may have their home and car secured with finance, so could end up losing their lifestyle and livelihood.

 

Why Consider Debt Management?

When you take into account that two thirds of Ireland are struggling with debt, it’s likely that many of those people may not be aware of the benefit that debt management can offer. People can also suffer from a series of ailments that prevents them from dealing with their financial problems. As such, a professional solution is needed to ensure that everyone understands their financial commitments, while making sure that are dealt with fairly.

A debt management company will also be aware of what can be done to reduce your level of debt. Facing this alone can sometimes result in a series of dead ends.

Another reason that so many in Ireland can suffer from debt is due to the fact that different bills fall on different dates. This can be confusing to many people, so it’s not always because money isn’t available, it just wasn’t available at the right time. As well as ensuring your commitments are met each month, you will only have to make one monthly payment in most instances, giving you more control of your finances as a whole.

Allowing a debt management company to look at your finances can also help freeze interest on some loans and credit cards, meaning that you’re paying less each month as a result.

Being in debt can be a worrying prospect, but with so many others in the same boat, we can be more confident in asking for help and shrugging off the shackles of stigma. Anyone can fall into financial hardship, so there’s no reason as to why anyone shouldn’t be able to seek help should they need it.

 

Rory McGonnell

Founder of Bright Day Finance

Personal finance expert and blogger who has an interest in money saving ideas.

 

 

Agnes K. from Galway

“Rory McGonnell and his team have been our rock since we started with Bright Day Finance! I don’t know what we would have done without him to sort out our finances it’s been a weight off our shoulders and we have been able to sleep better and not be so stressed knowing he’s taking care of our debts.

He always contacts to make sure we are happy with everything and that if we need any more help with friends or family he is always there to listen and advice”

Robert M. from Cork City

“I highly recommend Rory & the staff of Bright Day Finance to anyone having issues with their creditors. He helped me through a stressful time with me going deeper into debt.

Rory negotiated excellent terms from all my creditors into a weekly payment I could afford. Was a phone call I’m glad I made and a great weight has been taken from my shoulders ever since”

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