If you find that your spare cash has become all soggy and useless, then you couldn't do much worse than call Gail McCready of McCready's Debt Repair. Gail's company specialises in dealing with toxic debt and if your financial assets have become corroded then there's a good chance that you need her help.
"Toxic debt can creep into your home via an air vent or up through the floorboards," Gail explains. "It prefers places that are cold and damp. Once it has penetrated the building, it creeps up the walls and gets into the plaster. If you catch it early you might be able to shift it with token payments and county court judgements, but you've got to be quick. Leave it too long and it will take hold and then you've got to get an expert in."
The good news is that toxic debt is quite rare, at least in domestic situations. Most homeowners will find that what they're actually dealing with is 'rising debt'. This is still quite nasty as it can cause breathing difficulties and make your skirting boards curl up, but it can be relatively easily remedied with a budgeting spray or an off-the-shelf debt management treatment.
Toxic debt is more usually found in specialist financial institutions such as banks, insurance providers and the constituency offices of Members of Parliament. These are the places that usually call on Gail's services and business has been booming in the last few years.
"The say that it's an ill wind that blows nobody any good," Gail says. "And the financial crisis has certainly created a significant demand on our services. We're constantly getting requests to come and deal with bad debts, ruptured credit and mouldy deficits. It's great. Things are really looking up for us. The only thing that's holding us back is that none of our customers seems to be able to settle an invoice. Perhaps we need to get an expert in?"