Visits to Debt Counsellors Soar

Visits To Debt Counsellors Soar

As debt levels rise in a suffering economy, the human side of the economic disaster is becoming all too apparent.

For many, the possibility of a solution to their debt seems a long way off, and the usual routes are not providing much-needed to relief for families in desperate situations.

Debt counsellors have been inundated with enquiries from people searching for a solution to their money problems.

While there are sustainable routes out of debt, however bad the situation may seem, many are finding their money worries too much to handle and are increasingly turning towards drugs, alcohol and even suicide.

Reports show that the number of calls from people in dire financial situations who are contemplating suicide to charities such as lifeline are on the increase, while sales of anti-depressants and sleeping pills are an all time high.

In the East London area alone, the number of suicides has risen from 59 in 2007 to 81 in 2008, while there were 81 cases of alcohol abuse reported in 2008, compared to 17 in 2007.

Joan Marshall, Director of the East London division of Childline/Lifeline said that although not all these cases can be blamed on the economic climate, the increase certainly reflects the current economic situation.

“The economy is linked with suicide, depression and alcohol abuse. People use alcohol to dull the pain and the worry. People usually say money isn’t everything but when you haven’t got money, then love flies out the window and tempers flare,” she said.

Ms Marshall added that “Money is important because everything we want to do costs money. When you look at South Africa with the high crime, the high HIV, the rising prices and now retrenchment, it’s too much. Life in this country is very stressful.”

With so debts affecting so many areas of life, it is the children in debt ridden families which are affected too and Childline has reported an increase from call from youngsters who are suffering emotionally because of the financial stress which their parents are under.

According to Susan Potgieter, director of Lifeline/Childline Port Elizabeth, they have recorded a 30percent increase in calls from young people.

“There is a noticeable increase in the number of youngsters suffering emotionally due to financial pressures at home and (the) uncertainty about their future due to (the) global economic crisis,” she says.

With debt affecting so many areas of people’s lives and pushing many right to their limits, viable solutions to chronic debt need to be demonstrated.

David Glover, a debt counsellor from West Yorkshire said: “There are solutions out there. That is the message which we need to get across to those struggling with their debt. People need to realise that there is a light at the end of the tunnel and contemplating suicide is definitely not the only way out.”

“We would encourage anyone struggling to seek advice immediately and their counsellor will find a solution for them to beat their debt. It will take discipline and it might mean cutting back on a few luxuries, but it will lead to freedom from debt.”

“We can find companies which will offer loans to consolidate existing debts, in some cases we may advise filing for bankruptcy, but it important to remember, even for those with seemingly impossible levels of debt, there is a way out.”

Find out how to resolve your debt problems through the current economic climate via avenues like bankruptcy, iva etc.

Article from articlesbase.com

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