What to Do Financially When You’re Diagnosed with a Serious Illness – Would You Turn to Personal Debt Solutions?
According to a report by Macmillan Cancer Care, families earning average wages with average outgoings end up £200 in debt each month if an adult is diagnosed with a disease such as cancer. The report was discussed in a recent news article, and said that the average family is left with around £365 (8032.85 South African Rand) each month after paying for necessities such as bills, food and everyday travel. Macmillan Cancer Support chief executive Lynda Thomas commented on the report, saying: “At a time when thousands of families are struggling to make ends meet, a cancer diagnosis can be the straw that breaks the camel’s back, sending them into financial freefall.” Avoid Loan Sharks Many people turn to loan sharks to try and make ends meet. The trouble with this is that unlicensed loan sharks can often get you the money quickly but charge huge interest rates as a result and cannot always be held accountable. They are law-breakers, and can demand unreasonable repayments and deadlines, which can only elevate stress levels higher on an already delicate and anxious […][ Read More → ]