Jan 26 2021 52 mins
Business debt has rocketed due to the pandemic - alongside personal and household debt. You or someone you know may be part of the troubling statistics that have led to businesses collapsing or heading for the cliff edge. And there's the human cost of stress and anxiety and the potentially devastating consequences of actually tipping over the edge.
Top accountancy firm Ernst & Young forecast that business lending in 2020 will have grown by 14.4% compared with just 2% in 2019 and will grow further this year. For some, financial support for their businesses has been funded by personal borrowing or savings, contributing to the rise in personal debt. Between September and November last year, available figures show someone was declared insolvent or bankrupt every 4 minutes and 34 seconds.
While being at the cliff edge of debt is a scary place to be, it doesn't have to be all doom and gloom. The chances are you don't know what you don't know about how debt issues can be resolved. There are practical solutions and important things to learn about how the world of debt really works - some of which will probably surprise you.
Which is why I encourage you to listen to my guest in this week's podcast. He's an expert in the field of debt resolution and has helped many businesses and individuals deal who may have thought there was no way out. His extensive experience and knowledge of the finance industry is revealing, and I'm sure you'll discover and learn more than you might think.
So join us on the podcast and discover....how to solve your debt problems without stress or worry....