How to Deal with Debt: Infographic
Debt is something that almost all of us will experience at some point in our lives. The necessity to take out loans for major investments such as property, cars and university education will leave us owing money to creditors, so it is our responsibility to ensure that we manage to keep on top of debt repayments before they begin to severely impact our day-to-day lives.
This infographic from All Finance Tax explains why people fall into considerable debt and what situations should set alarm bells ringing. Being unable to repay creditors will not only leave you open to the risk of having your assets repossessed; it can also have a massive effect on our mental wellbeing as our stress increases along with the size of debt.
If you’re in financial difficulty and fearful of the consequences of debt, the infographic below imparts helpful advice on how to handle this delicate situation.
Colette Cassidy is the Director of Irish tax consultancy company All Finance Tax (www.allfinancetax.com). She has a number of years’ experience of working in the financial sector and contributed her services to multinational firms before starting her own business in 2003.