Debt continues to be a major problem in the UK as well as in most other countries around the world. You may find the following figures make interesting, albeit concerning reading.
As at the 30th April 2013, the level of personal debt in the UK that was outstanding was £1,424 trillion whereas twelve months earlier it was £1,410 trillion. You should not need a calculator to work out that it has increased. As at the 30th April 2013, unsecured lending stood at £157 billion whereas as at 30th April 2012 it was £158 billion – a drop. As at April 2013, the average level of household debt that did not include mortgages was £5,971 – a drop of £1 when compared with the previous month.When you add in mortgages the figure increases to £54,015 as at April 2013 which is a slight increase when compared to the previous month when it stood at £53,991.
Perhaps a startling statistic is the fact that in the twelve months to 31st March 2013 building societies and banks wrote off loans totaling a huge £4.1 billion.Each day 88 homes are repossessed.
Did you know that, on a daily basis, there are 1,373 County Court Judgements issued and that 274 individuals are declared bankrupt. Each working day in 2012, the Citizens Advice Bureau had to deal with 8,192 new debt problems.
So, as you can see, if you are reading this post because you are struggling with the burden of debt you are not alone.There are no doubt hundreds of people looking for bad credit bank accounts.
There are many companies that allow you to apply for a bank account with no credit check with many of these accounts providing all the facilities that you require for an affordable outlay. Opening a bank account with bad credit has probably never been easier.
The days of not being able to undertake your banking entirely satisfactorily because all you can get is a basic bank account for bad credit are long gone. You can open a bank account with bad credit even if you have a poor credit history.
So, even if you fall into one of the above statistics, you need not be concerned – apply today in the confidence that you will most likely be able to open such an account.
One other thing to note is that it is important you keep in contact with your creditors, such as your bank, if you owe them money. Lenders, although keen to have the debt repaid, are usually understanding when dealing with people that have got into financial difficulty.
There are an increasing number of people applying for payday loans with bad credit.