You will probably have noticed a lot of debt stories hitting the headlines this year: national UK debt, football teams in debt, women in debt and credit card debt but to name a few.

However the headlines which seem to have had the most impact are the ones which aren’t all about facts and figures, the stories about real people which show the human side of debt and in some very unfortunate cases the loss of life due to debt problems.

Below are some example of the loss of life due to debt:

These are just a few stories which made the headlines, but alarmingly a report released in September this year claimed that 30% of people suffering from financial difficulties would consider self harm or suicide because of their debt problems.

This is not surprising when you look at other data such as a report by AXA which claimed being in debt can damage an individual’s physical and mental health and another study which showed that ongoing debt problems “cause more family arguments”.

Suicide may seem like a very extreme measure, but for some people in debt it really can seem like there’s no way out and I think one of the reasons for this is the fact that people are reluctant to talk about their debt problems. As a company who are in regular contact with people in debt, we often receive requests from journalists for case studies – people who are willing to talk to the media about their debts. It’s rare that people are willing to come forward and to face the judgment and harsh comments from others.

I dispute a report released this week which suggested people in Britain have a “shameless” attitude to debt. I think the sample size for that research of 1400 adults is not representative enough of all people in debt. Some time ago I came across a discussion topic on an online consumer forum entitled “are you secretly poor too?“ which was full of anonymous posters sharing their secret debts problems.

I think online discussion forums are a really positive way to get people to talk about their debts, whether they do it anonymously or using their real name. Talking about it isn’t going to fix everything but knowing that you’re not alone in your situation can make such a big difference and here at ClearDebt we encourage people to interact with us and other people in debt via our online community and this very blog.

We want to know your debt stories so we can show the human side of debt. We have already shared the real life story from someone in an IVA and we want to publish more real-life experiences of being in debt like this one. Please leave a comment below – you don’t have to use your real name and your email address will not be displayed, but your story could make a real difference to people who are struggling with their debts and can’t see any way out.

-    ClearDebt client, Struggling63, writes blog giving first hand detail of debt and IVA solution
-    Struggling63 confirms he had credit cards from age of 18
-    At age 42, Struggling63 was almost £42,000 in debt
-    In August 2010, age 47, he started a debt free life

Leading UK debt solution company, ClearDebt, publishes a blog written by one of their own clients which details his first hand experience of getting out of £41,982 of debt.

The blogger, using the pseudonym, Struggling63, talks about why he went into debt.  Struggling63 also explains the process he experienced throughout the duration of the IVA and the emotions this created as well as the financial restrictions during the five year period.

Struggling63 is now debt free – having paid back £28,758 over 60 months and completed his IVA in August 2010.  Like many, he found the hardest step to be seeking help in the first place: He completes his blog by saying:

“Please, from someone who’s been there and got to the other end of the tunnel, if you can recognise any of your situation in the above, you should seek help before debt swallows you up.”

ClearDebt CEO, David Mond, comments:

“As professionals in an industry which is often tainted by less ethical companies, it’s sometimes difficult to communicate effectively with people in debt and help them realise they need help.  Having someone who has been there and who is willing to make their own story public is a huge contribution to helping others.  Srtruggling63’s story will encourage people in similar situations to take stock and start thinking about moving forward with their lives in a more positive way.”

ClearDebt recently released statistics confirming the average debt level for women in debt was £33,885 whilst men on average owed £42,741.

Notes to Editors:
For full details on this research or further comment, please contact:
Jacqueline Cohen, Group Marketing Manager – ClearDebt Group
0161 968 6823 /07976 739 125
jacqueline.cohen@cleardebt.co.uk
www.cleardebt.co.uk

ClearDebt, the UK’s leading debt solution provider announces the growth of their blog, which will keep consumers up to date on the latest developments in the financial services industry.

Through the blog, employees of ClearDebt post informative articles which relate to debt problems and their solutions. This offers access to unique data, which allows customers to find the most up to date figures and statistics regarding the debt problems facing UK consumers.  The blogs also cover day to day money management issues for consumers, highlights factors around IVAs and Debt Management Plans and also talk about updates on their website such as free debt advice guides.

Readers of the blog are offered the opportunity to post questions for the financial experts within the ClearDebt team to answer. Andrew Smith, Marketing Director of the Cheshire-based firm is a prominent voice on both the blog pages and the advice sections of the website. Commenting on the new blog and the industry in general, he comments:

“Our new blog offers consumers the opportunity to learn about the latest developments in the financial services industry, as well as gaining advice from qualified advisers.”

“Unfortunately, there are a few disreputable companies within our industry who have given the industry a bad name. Providing services such as our new blog, which offers free, impartial advice, will hopefully help us to distance ourselves from these firms.”

The ClearDebt Group offers debt solution packages to residents in the UK via their website. These are outlined in a clear, concise manner, in order to help customers to choose the correct package for their situation. Incorporated within the site is a Debt Analyser, which allows customers to input full details of their financial situation and receive an immediate response in the form of a report. This can be either a short-form list of possible solutions; or a more in-depth assessment of their situation and possible options.

The most popular option recommended by ClearDebt is the IVA (Individual Voluntary Arrangement), which can be a preferable alternative to bankruptcy. IVAs reduce the total amount owed, freezing the interest and consolidating credit into a single, affordable monthly payment, Arrangements are overseen, negotiated and supervised by a licensed insolvency practitioner and chartered accountant.

I recently came across a discussion on the mumsnet.com forums about a woman who was secretly poor.

From the outside it looked like she was well off enough, with a “a lovely house filled with expensive furniture and nice clothes in the wardrobe” but the truth was she and her family were struggling to pay their bills and her property was in negative equity. The post received a lot of replies from seemingly middle-class people in similar situations, all trying to keep up the appearance that all was well, and secretly battling to manage their finances and debts.

As a company in the debt industry we’ve seen a reluctance in people to talk openly about their debts with others. Perhaps it’s the idea that irresponsible spending has caused the debts. Whilst this may be the case for some (such as Daily Mail columnist Liz Jones) most ordinary people are struggling with debt because of redundancies, unemployment and other economic factors.

A recent report showed individual UK debt is on the increase, so it’s not surprising that debt is affecting all kinds of people, whether they appear to be in a well-paid profession, or have a nice looking house.

If you’re one of the “secretly poor” people, ClearDebt have set up their online community to offer advice and answer any questions you may have about debt. You can post a question under an anonymous username and one of our expert debt advisors will reply back with an answer. Visit the ClearDebt Community now, or complete our online contact form and we will call you back.

Daily Mail columnist Liz Jones has been talked about recently after writing about her debt problems in a recent column and in turn receiving letters and emails of support including offers of cash from people who are arguably worse off than she is. One 77-year old widow living off a state pension offered Liz £50 she had won on premium bonds, whilst two other pensioners offered Liz money “towards food and petrol”.

This caused outrage amongst tweeters, commenters on the Daily Mail website and even other journalists, such as Tim Lusher from The Guardian Online who further added fuel to the fire by publishing “The Liz Jones Guide to Prudence” listing some of her extravagant expenses including a £26,000 bat sanctuary and a £3000 fridge.

We’re not here to judge her though, quite the opposite in fact: as a company who help people with debt problems, we understand that anybody can find themselves in debt, even someone who is reportedly one of the Daily Mail’s highest paid columnists. A lot of her narratives on living with debt echo the sentiments of any other person suffering from debt problems, from being hounded by debt collectors constantly, to the fear of being looked down upon by other people, and the continuous worry about where the next meal is going to come from, but to name a few.

We want to know your thoughts on this – Does she deserve the criticism she is receiving, or should she be applauded for speaking up about debt and raising awareness that it really can affect anyone?