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Too many loan claims 'can lead to bankruptcy'

Many people who relied on loan claims and other forms of credit before the financial crisis could find themselves in serious difficulties nowadays.

Life coach and mentor Annette Greenwood said: "The recession hits us all unless you are wealthy."

Both companies and people are falling into bankruptcy after "living beyond their means", she declared.

Organisations are "cutting back" and streamlining their operations in order to boost their revenue and redundancies are being made, the expert continued.

While people are suffering stress from bank charges, she also claimed that resentment and disharmony are being fostered in this environment.

This "has a negative impact on individuals and can lead to depression", she warned.

Instead of resisting the situation, acceptance is a healthier outlook, Ms Greenwood argued.

Director of the Anglo European Clinic and consultant psychiatrist Lars Davidsson recently pointed out that people can feel anxiety when they cannot pay bills and mortgages.

Charles Baker
Charles is a reputed financial analyst with decades of experience under his belt. ADNFCR-2776-ID-801472065-ADNFCR

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