The Project

Think Twice – Debt is a Serious Issue! is a Grundtvig Partnership Project – a small-scale European cooperation project – focused on co-operation activities between seven diverse organisations working in the field of adult education in the broadest sense. Countries represented are: Czech Republic, UK, Italy, Slovenia, Netherlands, Lithuania and Bulgaria.

The Project was instigated in response to the current economic climate in which many individuals and families find themselves in debt.

Agreement number: 2011-1-CZ1-GRU06-07128

Internal reference number: GRP/11/204P

This project has been funded with support from the European Commission. This website and blog reflect the views only of the contributors, and the Commission cannot be held responsible for any use which may be made of the information contained therein.

This partnership is responding to the increasing negative phenomenon of debt and insolvency.

Because of the financial crisis and following the economic recession, which started in 2009, a lot of individuals and households have got themselves in difficult financial situations which they are not able to handle.

Although the crisis is beginning to ease, the problems still persist. People need money for financing different life costs related with their accommodation, transport or simply their daily expenditures.

On the other hand, some of those expenditures are simply based on the belief of the customer/consumer that he or she needs it because the advertisement told them they needed it!

Credible and trusted persons can borrow the money from financial institutions such as banks, but when they are under time pressure or are missing an all-important guarantee for the money, they may search for alternative opportunities that would offer them the money immediately, without additional bureaucratic procedures – the services of moneylenders and other non-bank institutions.

These organizations provide loans with a very high interest rate and reference to the annual percentage rate is hidden in the contract so well, that the signers can easily overlook it. Once they find out, it is too late and they can end up in a trap they are not able to get out off.

As the number of debtors is getting higher, this partnership aims to help these people by offering tools which can help them to get valuable information and be advised in issues they are dealing with. They will become familiar with the most common mistakes while concluding loan contracts.

This way they will not fall into a trap and run into debt for the rest of their lives. They will have less debt or ideally become debtless …

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