Debt Management UK
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    • Debt Management UK
    The world’s oldest financial institution, Bank of International settlements submitted a report suggesting that UK growth rate is at risk due to soaring debt levels in UK. There are three kinds of debt in UK namely public sector debt, corporate debt and household debt. BIS is of belief that beyond a certain level, debt is perilous to growth of UK’S economy. If debt crosses certain level then GDP of a country would fall apart. Further, the ideal percentage of Govt debt should be 80-100 percent, threshold limit of corporate debt should be 90 percent of GDP and household debt is recommended to remain on or below 85% of GDP. In contrast UK’s Govt debt is around 89 percent, corporate debt is around 126 percent -which may badly affect economy of UK and household debt is around 106 percent. According to certain statistics Portugal and Canada are the only nation where debt levels have breached the threshold limit.

    BIS notifies that these countries with high debt level should act swiftly to address their fiscal problems otherwise the economy as a whole will suffer. Due to rise in debt level, unemployment and recession many debt management companies have spruced up. These companies provide innumerable types of debts and loans like payday loan, debt consolidation loan, bad credit loans, mortgage loans etc. Although these companies provide hassle free and fast loan but still it is not sure shot way of debt relief. If Govt want economy to dapper up then it needs to formulate stringent policy measures. Debt Management Plan is not an answer to all financial woes. BIS further remarks that building a fiscal buffer to address contingent events is answer to this dreadful problem. Govt should keep debt well below estimated levels otherwise it has to face consequences. 

    Use online calculator for calculating loan installments.
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