Notice of defaults: everything you need to know
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Have you ever borrowed money to pay for food? If you have you’re not alone, and it might be a sign you need expert help with your debts.
Have you ever felt so strapped for cash you had to borrow money to pay for groceries? If you have then you’re certainly not alone. In fact, many people in the UK have done this before … and the number appears to be rising.
We carried out a survey* last month to find out how many people had to borrow money to pay for the food shop in February, and nearly one in five (18.7%) respondents said they had. That’s equivalent to almost 9 and a half million people across the UK. This is a worrying figure, and shows that many UK households appear to be struggling to afford even the essentials.
Covering the basics
Food is an essential expense … it’s not something any of us can live without. So, if you have to borrow money in order to afford it, this could be a sign that your household finances are spiralling out of control.
One reason for this might be that you’re trying to prioritise your debt repayments over everything else … even your grocery shopping. When you’re getting letters and phone calls from lenders asking for money, it’s hardly a surprise you want to put them first … but no one would expect you to do this ahead of putting food on the table for your family.
Get help from the experts
If you’ve recently … or ever … found yourself in the position of choosing between paying for food for the week or paying your debts, there are others who’ve been through exactly the same experience. Many of our clients tell us they haven’t had enough cash to pay for essentials like groceries or utility bills because they’ve made the decision to put their lenders first.
Of course, repaying your debts is a priority … but not one you should put above your basic living expenses. It can be difficult working out how to pay for everything though, and that’s where we can help.
Speak to one of the experts at Debt Advisory Centre for free today and we can look at all your financial commitments, from essential household expenses to debts, and work out how to make sure they’re all covered. This might mean considering a debt solution, for which fees are payable … but we’ll only recommend what suits your personal circumstances the best.
What you shouldn’t do, though, is continue to struggle alone. If you’re having to ask friends and family if you can borrow money to feed your household, or if you’re regularly relying on credit to pay for your groceries, talk to us and we will do our very best to help.
*OnePoll questioned a nationally representative sample of 1,822 adults aged 18 and over between 25th February and 7th March 2014. Figures have been extrapolated to fit ONS 2013 population projections of 50,371,000 UK adults.
by Kyri LevendiBack to blog home