Your credit score is crucial when it comes to your financial future and plays a big part in your ability to borrow money or be accepted for a loan. Your credit score may be checked when applying for a number of things such as mobile phone contracts, car finance, mortgages, insurance, utility services and more. …
An individual voluntary arrangement (IVA) is a formal and legally binding agreement between you and your creditors to pay back your debts over a period of time. This means it’s approved by the court and your creditors have to stick to it. An IVA can be flexible, to suit your needs but it can be …
Debt can really suck the enjoyment out of living a fulfilling life. In order to not feel like you are solely living to pay off your debt, you need to find the right balance between paying off your debt and still enjoying life. Don’t let debt overrun your life Although some financial experts say you …
The Bank of England released figures in April this year, that showed that unsecured personal debt in the UK has increased by 6.5% in the last year. Adjusting for inflation, Consumer Care UK has calculated that this means such debt has increased by 27% in real terms since the financial crisis in 2013. In contrast, …
There are more than 8m people in the UK struggling with some degree of problem debt. Yet most will not call a debt helpline until their finances are at breaking point. Problem debt is usually a private battle. Callers are likely to have spent two years sinking deeper into debt and juggling multiple creditors until …
UK households are taking on more debt than ever to make ends meet. In this climate, rising employment figures mean nothing. Those in debt pay a heavy price: there’s the anxiety of having debt in the first place, and then repayments hang over people’s heads. Britain’s household debt has reached a new high. According to …
You need to think carefully about declaring yourself bankrupt. Find out more about what it means, then talk to a debt advisor about whether bankruptcy is the best way to pay off, or clear your debts. This information is for you if you live in England or Wales only. These are the topics we will …
What would you be more embarrassed to shout from the rooftops: your weight or your credit score? According to a recent survey, it is clear that debt shame in the United Kingdom is worse than diet shame. A whopping 37% of people answered that their credit card debt was the most embarrassing, followed by 30% …
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Everyone with even a little bit of debt has to manage their debt. If you just have a little debt, you have to keep up your payments and make sure it doesn’t get out of control. On the other hand, when you have a large amount of debt, you have to put more effort into …
How a Debt Relief Order works If you’re struggling with money, you can talk to someone today, online, by phone or face to face. We have specially trained advisers who can help you start sorting out your financial problems. suitable if you are on a low income with very few assets freezes debt for a …
