Volatile and Unpredictable – A Week of Financial Turmoil
The last seven days have been some of the most volatile, unpredictable and potentially damaging to the world’s economy for several decades.
In the UK alone, the financial problems of its largest mortgage lender HBOS has prompted a massive takeover deal worth £12.2 billion by Lloyds TSB.
UK Mortgage lending has itself recorded a 36% drop compared with August last year, according to the Council of Mortgage Lenders (CML). And worldwide, the collapse of Lehman Brothers, and the problems facing large investment and insurance companies like Merrill Lynch and AIG have led to fears of financial meltdown across the world’s strongest economies. Many financial commentators are now more nervous than ever about what this means for consumers.
Many UK Families Struggling Financially for Several Years
However, it’s easy to forget that many families in the UK were already financially overstretched, well before the Credit Crunch and recent hikes in food, petrol, gas and electricity prices hit home. Consumer debts such as credit cards had already reached record levels, and many individuals, families and businesses had found themselves with serious debt problems resulting from years of overspending and budget mis-management.
Recent problems – such as rising inflation, rising living costs and rising unemployment – can only add to what was already becoming a problem too big to handle for many in the UK.
PaylpanPlus Can Save Clients Money
Especially at times like these, Payplan believes it’s really important that its clients are given all the tools possible to help them take control of their debts, whether through a free Debt Management Plan (DMP) or an IVA.
This is why Payplan gives all its clients free access to PaylpanPlus, a unique online service that allows clients to make and track payments, monitor payment dates and keep an eye on outstanding debts to each and every creditor giving them the confidence that creditors are being paid and their debts are reducing.
Help and Support with Legal Threats
Not only this, Justabank offers further support, information and advice for common situations that can arise when dealing with debt, such as what to do when receiving letters threatening legal action (eg county court judgments or CCJs).
Justabank Can Help Debtors Reduce Their Expenditure
Importantly, during this period of economic uncertainty, Justabank also gives clients access to numerous special offers and advice on complimentary products that could save them money on their essential expenditure – these include things such as ensuring that their home and car insurances remain competitive, utility bills such as the phone, gas or electricity are not costing them more than they should and that they can access their money by using the correct kind of bank account for their situation.
It’s really important to Payplan that their clients’ debt solutions succeed, so by helping them save money on their monthly budget in this way, Payplan believe that Justabank can help ease the pressure that dealing with debt can bring.
Through Justabank, clients also have direct contact with their case officers online, allowing them to help and support clients quickly, whilst reassuring them at the times when it’s needed most.
Reassurance, Help & Support – Justabank is free for Payplan clients
Reassurance, help and support – this is what Justabank is for, and what’s more, it’s completely free. If you’d like further information about Justabank , then you can visit Payplan’s website or simply contact a Payplan debt adviser for further details.