Debt counselling application soar

Company chief executive Ian Wason says that it appears people have been taking out new unsecured credit to settle current debts and now they have to face the reality of not being able to pay what they owe.

According to Business Live, he says that DebtBusters has been mandated by 95% of credit providers to extend terms and reduce interests rates down to zero if necessary to allow over-indebted clients to pay their bills.

For more:

• Business Live: Enquiries for debt counselling surge

• DebtBusters: Homepage