Reasons To Save Into A Pension

Many people are living on less and that includes the older generation. It may not seem important to save for later years when living day-to-day is a struggle. However, saving into a pension is a smart move because putting money away now provides it with time to grow. When you exit the workforce, there will … Read more

Dealing With Debt Created by Unauthorized Transactions

We are not talking about unauthorized credit cards, but transactions like auto repairs that are completed without your approval. When a married couple purchases a car, one person may put the vehicle loan in his or her name, even if the partner will be the main driver. The car may be registered in the name … Read more

What Are Consequences For Council Tax Debt?

Council tax is a tax levied on households by local authorities in England, Wales, and Scotland. Contributions are used to partially fund services like rubbish collection and policing provided by local governments within each country. The tax applies to all domestic owned and rented properties, with the amount dependent upon the valuation band for the … Read more

Should Mortgage Shortfalls Be Included In Debt Management Plans

Having the home repossessed can be a horrible experience because it may leave a person homeless. After a suitable living arrangement is found, thoughts turn to additional financial troubles lurking in the future. Voluntary or mandatory repossession of the home can cause mortgage shortfall debts to arise when the home is sold at a price … Read more

If I Have Been Debt-Free For Five Years, Can I Get Finance?

As soon as many people pay off their debt, they look for new credit. Experts caution against overspending, especially for consumers who have recently gotten out of debt. The last thing a former debtor needs is to get back into a negative financial situation. However, for debtors who have learned their lesson, credit opens the … Read more

What Are Permitted Debt Collection Practices In The UK?

Within the UK, the Office of Fair Trading (OFT) is responsible for issuing guidance regarding debt collection practices. This written document outlines what is expected of companies that pursue the collection of consumer credit-related debts. The most recent update to this guidance occurred in October 2011 and includes information for both consumers and agents responsible … Read more

Can My Former Flatmate Be Held Accountable For A Bill?

Living with others can be financially beneficial because it enables many people to reside in housing they could not afford on their own. A flatmate shares rent, utility, and other bills, making living independent from the family more affordable. In some cases, utility and service accounts are established in the names of both people. Flatmates … Read more

Is An Overdraft Or Credit Card Debt Better To Have?

Many UK consumers have credit card debt that they would like to repay. When the credit card account balance is high and immediate cash flow is tight, some people consider using a bank overdraft to repay credit card bills. They then take their time repaying the overdraft. But, is exchanging one type of debt for … Read more

What Should I Do If I Cannot Make My Loan Payments?

Many people take out personal loans with full expectations that they will repay the money. However, poor financial planning and unexpected circumstances can make this difficult or impossible. If you find yourself with a personal loan that you are unable to repay, there are several ways to handle the situation without sinking further into debt … Read more

How Can I Find Out What Debts I Currently Have?

Whether consumers do not stay on top of their finances or just moved back after temporarily living outside of the UK, they may wonder if they have any UK debts. Contacting current creditors to find out existing balances may not be enough. Some debts may have been accumulated years ago and are past the point … Read more

Do I Still Need to Repay a Bank Loan if I Have a Debt Relief Order?

A Debt Relief Order (DRO) is a bankruptcy alternative available to certain people. UK residents who do not own a home, have little spare income and are not likely to improve their financial situation should consider a DRO. Only an authorized debt adviser may file a DRO and an officer of the bankruptcy court called … Read more

How Do I Appeal A Final Charging Order For Unpaid Council Tax?

Once a creditor secures a County Court Judgment (CCJ) against you, that party can enforce the debt by applying for a Charging Order. If you agreed to repay the debt in installments and are not currently in arrears, a creditor may not request a Charging Order. However, this section of the law may soon be … Read more

Frequently Asked Questions For IVAs Individual Voluntary Arrangements

Who benefits from using an Individual Voluntary Arrangement (IVA)? Residents of Northern Ireland, Wales, or England who have a stable income and are at least £12,000 in debt could benefit from using an IVA as a debt management solution. Residents of Scotland should explore a Standard Trust Deed, an equivalent solution in that country. Below … Read more

Debt Management Plans Frequently Asked Questions

Many consumers have questions regarding debt management plans (DMPs) and we have provided the most common questions with their answers. Our team of debt management professionals will be happy to answer them and address your debt management needs. Below are some of the most frequently asked questions about debt management plans. Will this affect my … Read more

Debt Relief Orders Frequently Asked Questions

A Debt Relief Order (DRO) is one of several debt management options available to residents of Wales and England. People struggling with debt repayment may find a Debt Relief Order to be their best option. However, this solution is not right for everyone and not all people qualify. Below are some of the most frequently … Read more