It is not a crime to find you have debts that you cannot afford to pay, It is something that happens to tens of thousands of people often through no fault of their own. Here is the story of Jack, (not his real name).
Through credit cards and other loans and overdrafts, Jack found that he had accumulated what he describes as a huge debt of £13,000. He did not worry about it at all as he had a good job and was earning good wages but when he moved to another area things suddenly changed.
He found that he could not match the wages he was getting before. The only work that was available was temping contracts and he says that the wages he got for them were peanuts compared to the wages he had been earning previously. He thought that this was a temporary glitch, and to bridge the gap in his finances he just kept borrowing more money and things were just getting worse all the time.
He was advised by a friend to talk to Gregory Pennington Debt Management. He said “I contacted Gregory Pennington who were friendly and helpful from the very first phone call”. He was informed from the start that there would be some charges to pay, that it was not a free service, but that did not worry him. Those charges were nothing compared with the peace of mind and freedom from worry that he found once his debts were being properly managed.
At first he started paying back £400 a month which he found he could afford with his current job and it all worked out well. Eventually his circumstances improved and he got a much better job and was able to increase his payments to nearly £800. Now he is only one year away from clearing all his debts.
He set up a special bank account that worked well with the Gregory Pennington Debt Management scheme. He said that once you get used to it living on a budget was much easier than people think. Jack began to appreciate every penny and to look forward to the time when he would be out of debt.
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