Black Wednesday may put families in the red Warns EuroDebt Financial Services

06/04/2011

With 6th April being branded ‘Black Wednesday’ this year due to the anticipated benefit cuts coming into force and series of tax rises, EuroDebt Financial Services is warning families to take a long hard look at their finances and start taking control of their debts.

Kevin Still, Director said: “The benefit cuts and tax increases could leave some households worse off by £200 a year according to Credit Action. Furthermore, Labour’s Shadow Chancellor is warning that reductions to what parents could claim in childcare costs through the working tax credit alone may leave some families worse off by up to £1,560 a year.

“This will be a blow to those families already struggling due to redundancy or reduced income. With the threat of interest rate rises and the impact this will have on mortgage payments, it is really vital that those already facing debt problems seek help to get their finances in order, at the earliest opportunity.

“All-round debt advice and potentially debt solution from a reputable provider such as EuroDebt Financial Services can really help families get their finances back on track.”

Tags; Housing Debt and Bills, Job loss,

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