Martin Lewis describes what you should do if you’re in debt – and just how to reclaim money
MONEY expert Martin Lewis has revealed his top tips so you can get away from debt, from the latest episode of their money show on ITV.
He talked to Chris - a 28 old from Scarborough - who is dealing with "catastrophic" levels of debt year.
Chris said: "About 10 years ago, i acquired as much charge cards, phone agreements, payday advances when I could. Should they'd offer it if you ask me on credit, I would go on it.
"Life got into the way, my credit is shot through a floor, I do not even comprehend half the individuals we owe cash to any longer. I happened to be 18. "
"It worries me personally concerning the future now, since when I happened to be 18 used to don't think about do I would like to purchase a residence. Nevertheless now i am older i actually do wish my very own household. "
Martin recommended Chris - and other people working with unaffordable financial obligation to get assistance from a financial obligation counselling solution, such as for example action Change, National Debtline or people Advice.
He stated: "Debt could be dangerous, debilitating and depressing, but do not simply ignore it and keep on, that's a blunder.
"Taking action is exactly what matters, whether your financial situation are manageable and sometimes even if they feel catastrophic.
"Non-profit financial obligation counselling agencies will be able to work through this to you. They truly are here to assist you to not ever judge you and you need certainly to get and accomplish that as soon as possible.
"There are incredibly lots of people out here in horrendous financial obligation. I usually push to tyhose non-profit agencies, simply because they can stay here have the information, speak with the creditors for you personally and also make yes it works.
Checking for mis-sold loans that are payday. Martin Lewis' golden guidelines of stability transfer cards
Martin also recommended that Chris may have a been mis-sold a number of their pay day loans.