The debt charity Stepchange has reported that there are still some 15 million people falling behind with their household bills and using their credit card to pay for essentials.

In addition, almost 13 million people do not have enough savings to keep themselves for a month should their income suddenly drop.

It seems that despite the Government reports of ‘green shoots’, households are still feeling the pinch.  Stepchange are calling for a national strategy to deal with the problem, engaging all the Government departments, utility companies, landlords and charities to ensure that there are systems in place for people in real need.

We stongly recommend that people put something aside for a rainy day.  We should all identify what it costs to live for at least three months and then start to put this money aside.  Thie ‘rainy day’ fund will be a lifeline if you lose your job or interest rates rise.  It will reduce the need to seek short term finance which can be hugely expensive and have dire consequenses.

It is important for anybody facing financial difficulties, whether personally, directors of limited companies or partnerships, to seek advice from a licensed insolvency practitioner as soon as possible.

To take advantage of our free consultation, please telephone Stella Flemmings on 01377 257788, 01724 230060 or 01904 520116 and she will make you an appointment with one of our insolvency professionals at our Driffield, Scunthorpe or York offices.

Redman Nichols Butler has had a York office for nearly six years now and specialises in advising SME businesses in York and North Yorkshire.  The Redman Nichols Butler York office address is Westminster Business Centre, Nether Poppleton, York, YO26 6RB.

Redman Nichols Butler has had a Driffield office for 18 years now and specialises in advising SME businesses in East Yorkshire.  The Redman Nichols Butler Driffield address is Maclaren House, Skerne Road, Driffield, YO25 6PN.

Redman Nichols Butler has had a Scunthorpe office for nearly 4 years now and specialises in advising SME businesses in Scunthorpe, Grimsby and all over North East Lincolnshire.  The Redman Nichols Butler Scunthorpe office address is Suite 8b, Normanby Gateway, Lysaghts Way, Scunthorpe, DN15 9YG.