If you have multiple debts that you are struggling with staying on top of, a debt consolidation loan could be a good option to help you take back control of your finances in a responsible way. It can be difficult to keep track of your […]
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If you are self-employed and looking to find a debt consolidation loan, there are options available. Although it is sometimes more difficult to demonstrate stable income and constant employment if you are self-employed, the majority of lenders will still be happy to approve debt consolidation […]
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A debt consolidation loan is designed to help those with numerous outstanding debts bring all or many of their debts together into one debt or loan arrangement, to then be paid off in affordable monthly instalments. Debt consolidation loans can help simplify your debts by […]
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As of December 2018, the average UK households credit card debt stood at £7,863, an amount it would take over 25 years to pay back if only minimum repayments were made. Unfortunately, not everyone can afford to make those repayments, often through no fault of […]
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Finding yourself in financial difficulty, particularly in an economy such as this where the cost of living is on the rise can be especially tough. While debts are an everyday occurrence in a vast number of peoples’ lives, allowing them to spiral out of control […]
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When a partner or family member dies, it can be more difficult to handle when you also have to deal with their debts. This article explains the steps you should take to deal with the debts of someone who has died. If you need further […]
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If you receive a late payment letter, it can be very stressful, but you should try not to worry. Initially, it is important that you understand which of your debts are a priority. The next step is to begin to deal with them. You can […]
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According to figures released by the Office for Budget Responsibility in March 2018, the average household’s debt-to-income ratio has been steadily increasing over the past few years and is set to reach 146% by 2023. Unfortunately, this means the number of people missing payments, defaulting […]
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When you replace several credit card debts with one larger loan, it is called debt consolidation. One way to consolidate your credit card debt is to transfer the balances of all of your existing credit cards to one new one. Some credit card providers offer […]
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Debt happens to the best of us but if you find yourself with several different types of debt then working out what to pay off first can be particularly daunting. Getting rid of your debts through repaying your lenders is hard work and takes a […]
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Struggling to make your mortgage payments can be overwhelming, and knowing what to do next or where to turn to isn’t always easy. Many people in this situation choose to ignore the problem in the hope that it will go away on its own, but […]
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As of September 2018, the average level of debt in the UK was £58,540 per person, approximately 114% of average earnings. It’s probably no wonder, then, that a recent report by the National Audit Office found 8.3 million people were unable to pay their debts […]
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Having financial issues and rising debts is difficult for anyone- but especially so for people who are of lower financial means. Keeping on top of things when money is tight is particularly difficult, and the temptation to take out credit to cover basic costs can […]
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Payday loans are short-term loans generally used by people in need of money before their next payday (hence the name), though longer-term loans are also available. Also known as cash advance loans, they have high interest rates and steep penalties, e.g. for late payments. As […]
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The average person in the UK has credit card debts of £7,912, with an average credit card interest rate of 18.3%. If this is you, and you only make minimum payments, it will take 26 years and seven months to pay off your debts. Which […]
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Catalogues allow you to buy everything from household items to electrical goods to clothing and pay from them monthly by opening a credit account. In a way, it is similar to a credit card as the credit is unsecured and you are charged interest on […]
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When you’ve debts you can’t pay, you have a number of options. None simply write off your debts, but they do make them more manageable, meaning it’s easier to become debt free. Debt Management Plan (DMP) A Debt Management Plan (DMP) is an informal agreement […]
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There are no debt problems that are not able to be solved. The solutions will not always be simple, and you might not get immediate results, but there is always a way. Prompt action will put you in a better position to repay your debts […]
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Debt Management Plans (DMPs) are informal agreements allowing you to pay off unsecured debts by making one, affordable, monthly payment. They do not reduce the size of your debt, which still needs to be paid off in full. Is A DMP The Same As Debt […]
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If you aren’t able to pay off your debts, you can declare yourself bankrupt, a process whereby your debts are written off (allowing you a fresh financial start) as long as you abide by certain conditions. Applying For Bankruptcy Applying for bankruptcy costs £680 and […]
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A debt of any size can cause stress, sleepless nights and strains in relationships. Furthermore, debt can damage credit scores which can impact your financial situation in the future. However, many of us rely on borrowing to make ends meet or to cover costly expenses […]
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While loans are there to help you through difficult times, keeping on top of payments is especially important to keeping your credit rating secure and ensuring your financial situation stays in tip-top shape. Finding yourself in a difficult financial situation can be incredibly difficult, especially […]
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Declaring bankruptcy is a way for you to become debt free when you can’t pay your creditors. It’s a big decision, one that can have long-term effects on your daily life and may not be right for everyone. What You Need To Know About Declaring […]
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Finding the money to deal with unexpected costs in a time where peoples’ financial situations are at their worst is tough. Often, people will undertake desperate measures to make sure that they don’t go without. More and more people are opening themselves up to the […]
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