Diagnose your debt with Payplan – help yourself get out of debt

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Free debt advisors PayPlan help more than 80,000 people each year with free advice on long term debt solutions. Payplan have released new statistics based on data taken from customers who used their free service in 2015. They have also released a brand new tool that helps you to diagnose your debt with Payplan.

I have been shocked by some of the statistics that Payplan have released. For example, Essex, where I live, has the highest debt levels per person, in the UK, using the Payplan service. The average customer in Essex had £18,508 of debt in 2015. Our personal level of debt has never been this high, however, from speaking to friends it turns out we know several people with similar levels of debt.  The average debt in the UK is £16,753 which in itself is much higher than I would have thought.

Diagnose your debt with Payplan

Diagnose your debt with Payplan

Perhaps unsurprisingly each of the four capital cities of the UK are featured on the top 10 list of areas with the highest debt average. London was the area that saw the highest number of referrals to the Payplan service in 2015 with more than 2,500 people using the service.

Diagnose your debt with Payplan – our debt story

I started earning money online because we were in debt, which is a similar story to several other personal finance bloggers that I know. A few years ago my husband and I had several thousand pounds of debt. We were not struggling as such but I wanted to change our approach to money. This started with earning more money, and then we worked on reducing our outgoings too. Over time we were successful, and became debt free.

We have now managed to change our whole lifestyle. I work from home, full-time, and my husband is able to work 3-4 days per week. We have a baby due any day now and I am going to be able to stay home with our child long term, which is a fantastic prospect. This has been an amazing change for us and amending our approach to managing money has had a profound effect on our life. We feel blessed and I love to share our journey with other people. I originally started blogging to help others make and save money to improve their lives too.

Diagnose your debt with Payplan

The diagnose your debt tool from Payplan is fast and simple to use. By answering 10 yes or no questions you can test how debt savvy you are. If you diagnose your debt with Payplan and your answers indicate that you may be struggling with debt then you will be presented with helpful tips and advice. Payplan have been helping people to take control of their debt levels for more than 20 years now. You can find out more about Payplan by visiting their ‘About Us‘ page. You can even use their free live chat service to help you get started with managing your debt.

When I used the tool I was told that I was ‘debt savvy’. I was really pleased, naturally, but even being awarded the status of debt savvy doesn’t stop Payplan from linking me to fantastic advice. I was able to read some top tips on budgeting my money, which I found very useful. The tool was straight forward to use, and it took me just one minute to answer the questions.

Diagnose your debt with Payplan – be aware of your debt

Being aware of your personal debt level is important in life. Whether you have a long term goal, such as buying a home or saving for retirement, or you are more focused on improving your finances in the short term, budgeting is important. By budgeting correctly you can help shape your future and also free yourself of the stress of poorly managed debt.

It can be a daunting thought to face up to the reality of being in debt. For most people taking the first step, and admitting to struggling with debt, is the most difficult one. It is important to remember that you are not alone. There are many people suffering with the worry of debt management and gaining advice and support really can improve your life.

This is a collaborative post in association with PayPlan.

4 Responses

  1. Chammy March 11, 2016 / 3:01 pm

    That’s a great little tool there and a real eye opener to how much debt people are really in. PayPlan are a great company who’s customer service is fantastic, hopefully this post will reach others they can help.

  2. Rhian Westbury March 11, 2016 / 3:17 pm

    It’s so good that you managed to turn things around and will have the prospect of being at home with your baby. I wonder what they class at debt though, are they taking into account things like student debt and such? x

  3. Kreesh March 11, 2016 / 4:47 pm

    I’m pleased you posted this – there’s a lot of people out there that have no idea where to start to reduce/clear their debt. I had a look at the PayPlan tool and I will be trying it out! Great post Katy x

  4. Kirsty March 12, 2016 / 11:37 am

    It’s crazy how people can easily get in to debt now days. This is a great little tool!

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