Debt and Coronavirus

By 13th March 2020Financial Help, News

Debt and Coronavirus

You may think that this is another cynical cash-in on the latest human tragedy, Covid-19, better known as coronavirus. However, there is a very real link between the virus and people struggling with debt.

As the virus spreads and more people take up voluntary seclusion, many people will be forced to struggle with the basic statutory sick pay (SSP) of just £94 per week. This will barely pay the rent for the majority of people, never mind essential such as food and household bills. In turn this means that thousands, even hundreds of thousands, of people will struggle to meet their financial repayments on credit cards or loans. Those that previously managed to repay their bills will begin to struggle, and those that previously struggled will be in serious trouble.

School Closures

Even if you are showing no symptoms and no need to self isolate, should the UK follow the lead of many other countries worldwide and cancel school, this will force people to stay at home and look after their children. Again, this will force many into accepting no pay or the SSP, in order to stay home and look after their children.

How We Can Help

Our trained advisers will go through your debts and any income you may have, and help find you the perfect solution to your debt problems – even if this is a (hopefully) temporary situation.

There is absolutely no cost in talking to us and getting our advice, and you are under no obligation to accept any of the advice given (Although we think you will). So if you are worried at all, please talk to us today. You can call us on 0800 029 3992 or complete the form below and we’ll get back to you as soon as we can.

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