Press Release Summary: 2008 looks set to be a turning point for global economies with the credit crunch continuing to cause problems. Closer to home there are strong warning signs of major problems and if you\'re in debt you need to read this.
Press Release Body: The outlook for 2008 is looking miserable for many consumers. Repossessions are set to rocket, the number of homeowners falling behind on their mortgage repayments will increase and applications for easy credit - which consumers have relied on to prop-up their spending - will start to be declined.
Therefore, as consumers start to count the cost of Christmas and get ready for the party night of the year, they should begin 2008 as they mean to go on and get their finances in order.
To help, DCM Money Solutions, one of the UK's leading debt management and financial solutions companies has issued five easy to follow New Year Debt Resolutions.
1. Multiple credit cards - pick the card that has highest interest rate and pay as much as you can on that card, paying the minimum on the other credit or store cards.
2. If you got paid before Christmas don't be tempted by the Christmas sales unless you really need to buy that item
3. Biggest New Year's resolution should be to differentiate between needs and wants, for all 2008 purchases only buy the items you really need
4. With nearly a million fixed rate mortgage deals coming to an end speak to an expert before remortgaging - ask your current provider first, it's free! If they won't give you a deal ask an Independent Financial Advisor to look around for the best deals
5. Get yourself sorted and don't do it again
John Baird, DCM Money Solutions, Managing Director said: "January is a very busy time of year for the debt management industry. Consumers tend to brush all their financial worries aside in December only to wake-up in January with a massive financial headache.
"Worried consumers should start 2008 as they mean to go on and get their finances in order. Top of their New Year Resolutions should be to get themselves out of debt."
2022
