VERY DEEP!!!! Yes, without any second though both are interconnected. Nowadays in the UK, the bigger picture of the economy is talking about the biggest risk of recession due to Brexit. Besides, the natives are on toes on multiple financial fronts in their personal life. What you can expect to happen on the aspect of normalcy? Perhaps nothing.
The think tank of Britain ‘The Resolution Foundation’ has released this prediction, which sounds quite realistic and close in future. For sure, if this is the situation of the bigger picture then it is obvious to show the impact on the lives of people.
Already mental health issues due to increasing financial frustrations have become a global issue. For sure, things like this are the red alert signifying future destruction.
Financial stress is about a prevalent issue that keeps coming with different excuses.
DID YOU KNOW?? – One in three people worries about money up to an extent, which leaves a bad impact on their mental health. This situation explains the reason why the UK has a mental health awareness week.
The major issues of stress in financial matters are usually related to debt. The vicious circle of it is the prime factor that adds fuel to the fire.
Let us take a case here
James McNicol, 44 who is self-employed has an intense experience in this. He was always in stress on the stability of his computer repair business due to the fluctuations in cash flow and workload. Over the past five years, James McNicol has gathered a significant number in debts. His wife Paula who is a pharmacy assistant has a deep grip on this matter and she was always worried about his mental health. She noticed a considerable change in the eating habits and behaviour of James and found it necessary to consult to have medical attention to this.
This case tells how important it is to create a friendly atmosphere to help people get rid of their debts. The finance companies have the prime role to play in that concern. They have to think of the ways, which help people change their perception about words like debts, obligations and loans.
Take one more story of George Davies
An accountant in a renowned jewellery company. He says, a few months back his life was nothing but a burden on himself. Despite being good in handling numbers at the workplace, he was always a failure in personal finances. The ‘cost of living crisis’ that came last year had a long and bad impact on his finances. Housing, taxes, food, healthcare everything was becoming expenses due to pay squeeze and poor wage growth.
‘My concern was not the big financial challenges as they come seldom. The breaking point for me was the small and short-term situations that used to pop up now and then. How can I manage to arrange funds for sudden medical attention when my monthly budget was always choking with sundry expenses? My company cancelled the increments last year and I had to terminate the financial goals I made in expectation of an increased salary. This is only one example. I was already paying many instalments and in fact, missed to pay some of them sometimes. The result was bad credit and also a rejection of new credit cards, loans etc. I was always in search of a supportive solution that can help me revive in finances.’
It was relieving to know about the friendly nature of online lending
Oliver a close friend of George told him that online lenders nowadays provide funds despite the bad credit. They have specialised loan products to help bad credit people. They provide funds to help fight the financial crisis and also offer a deal on customised rates. You pay the instalments on time and by the end of the loan tenure, the credit rating improves.
George told – ‘I picked a lender and the decision was REALLY good’
After knowing the possibilities of online lending, George did deep research and comparison of the available lenders. AOneFinance, The Easy Loans, British-lenders.uk, unsecuredloans4u etc. were the names came in the notice of his ‘take a glance’ journey. Most of them had a high APR of around 49.9%. Nothing made him stop. Finally, a name that came out victorious to win his attention was ‘British Lenders’. The lender was providing funds on a much lower annual rate than the others.
From the professional look of the website to the versatility of the loan products, everything looked perfect. He picked the option of unsecured loans for poor credit. Things started acting perfect from this point. He applied for the loan in just 3 steps – Apply, get approval decision and receive funds.
In his own words – ‘Borrowing funds from British Lenders was so smooth and speedy that I felt like living in a fairy tale. My calculations matched well with the whole deal.’
George was happy to have a cheap deal enhanced with the FOLLOWING BORROWER-FRIENDLY FEATURES of the lender.
- Customised rates – This helped a lot in getting an affordable loan offer. This in fact helped handle the whole cost without any struggle and adjustments in monthly budget. From rate quote, to tenure and repayment everything was according to the financial capacity.
- More relaxation in rates due to inconsistent bad credit situation – George was not intentionally irresponsible in financial behaviour, it happened all because of circumstances. The lender provides more relaxation in rates if your bad credit history is not consistent. His past records were good and the lender noticed that. This is a great and unprecedented feature.
Finally, the loan was paid off, all thanks to small instalments
He paid off the loan very easily due to little sized repayments. By the end of the loan tenure, there was a good boost in credit rating. Best thing that happened was George qualified to get a credit card and situation to apply for other financial products was also promising. Fingers crossed. ☺
His happy words after the escape from big turmoil are – ‘I was happy to find such an inexpensive deal. Suddenly I started feeling stress-free, as I knew this is perhaps the beginning of my happy days. I can never forget the way British Lenders and its humble professionals helped me. Without this, it was impossible for me to regain the lost normalcy of my life. It feels great to have my peace of mind back after such a long long time.’
You know what…
Both the two cases (James McNicol and George) are the mirror of how things can turn upside down. The second one gives a reason to believe on the fact that with right solution in your hand, you can solve any problem.
Description – The bad and the good sometimes happen together. With your efforts, you can decide which side will win. Find the absolute solution and invest all your efforts to get back the control on life.