Latest Debt News
Bankrupt businessman offers debt advice
21/11/2005 17:09:00
An American businessman who found himself debt-ridden and filing for bankruptcy in the late 1980s has now set up a not-for-profit organisation to offer advice to others with debt problems.
Steve Rhode's Myvesta business has recently moved to the UK, having been started in the US in 1994, icWales reports.
By setting up offices in the UK, Rhode hopes that he can help address the £1 trillion of unsecured loans owed by Brits.
Steve was 32 when he faced debts of £12,000, and he has used his experience to try and help others.
Rhode emphasises that it is largely down to the individual to help himself, and to do so sooner rather than later.
"Consumers have to take some responsibility too. Just because a creditor extends credit to you, it doesn't necessarily mean you have to take it, or you can afford it.
"People in the UK do seem to be hesitant about reaching out for help sooner. I'm sure it is cultural. But that hesitancy only makes problems more difficult."
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