There's a common misconception that all people in debt 'brought it on themselves'. In reality this is often far from the truth. There are a whole host of reasons that somebody can find themselves trapped in debt - and they are sometimes things that could happen to anyone. According to the Debt Advisory Centre, who provided this article, people commonly find themselves in debt problems because of unfortunate events such as relationship breakdowns, redundancy and illness. There are, of course, those who have simply overspent too - but they may also need help due to something unexpected happening, leaving them unable to repay their debts. Let's look at some of the most common reasons for debt problems in a bit more detail. If you're unexpectedly made redundant, or you lose your job for any other reason, it can be hard to get by without your income to rely on. If you have any existing debts it can become very difficult to carry on with the payments. If you're out of work for a long time, this can give your debts a lot of time to grow - which could cause financial problems.
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