Debt Articles Category


Making Those Minimum Payments Into Your Golden Years

Credit card companies don't really want you to pay more than the minimums on your credit cards. They have worked out a beautiful system where you can have everything you want today, as long as you're willing to pay them for the rest of your life. That's how minimum payments work. Is this how you want to live?

Topping up your savings: 10 everyday luxuries you can cut out

We're all guilty of spending a little extra on ourselves here and there and that's no bad thing - but when you're on a tight budget and need to squeeze every last penny out of your pay packet in order to be able get by day-to-day and still be able to pay something into your savings account then there could well be items or activities that you take for granted that you could cut out.

The UK's Debt - What Is The State Of Play Today

According to statistics in November 2010 there are currently 1,566 people being made redundant on a daily basis and the average debt per household has risen to 57,810 pounds, with 181 million in personal interest paid in each day.

The Benefits of a Debt Management Plan

The main reason that people choose to use an agency to provide them with a debt management plan is that when people find themselves in financial difficulty they can order the repayments based on their ability to pay. A debt management plan also means that the interest rates on the money owed is potentially frozen, so that the debts may not increase.

A Guide To Overcoming Your Debts

Whether you have been indulging in purchasing a little too much, have experienced an illness or disability, or possibly have just been unable to balance income with expenditure, debt can be extremely stressful, and it can take its toll on your life if you allow it to.

Top 5 Ways to Save Money

There are some shocking statistics about the state of the UK economy today and the amount of debt that people have accumulated. All this goes to show just how important it is to save money and here are five top tips for saving and a little debt help for those that need it.

Tips to Arrange Your Debt in Order of Urgency

Sometimes it happens that for a reason or two you won’t be able to manage all the debts according to your plan and pay them all back in a said time. This is the time where you have to arrange your debts in order of urgency, .i.e. the most urgent debt should be on top and so on.

Tips to Get Help with Your Business Debt in UK

The Business Debtline is funded by 12 major banks and the DIT’s Small Business Service and was originally launched in 1992 in order to provide assistance to the small businesses that are having financial difficulties. In 2005, the company expanded its telephone service to assist the callers from Scotland as well.

Tips to Tackle the Prospect of Repossession

There come many instances in one’s life when he/she gets worry about having their home repossessed, such as in case of high debts. Repossession can be avoided in many cases which most of the people are not aware of. For instance, if your home has very little equity (surplus value of your home after the mortgage has been paid off), creditors may not find it of any worth to repossess it.

Understanding Debt, Credit Score and How They Affect You

Increases in bankruptcy and bankruptcy counseling have lead debtors to be more careful about who they give their credit to, and a big factor in this decision is an applicant’s credit score. If you are able to understand how to work your debt and how to improve your credit score, then you will be in good shape to make the best of your personal financial situation.

When to use collection agency services?

Keeping on top of accounts receivable is a major time consuming task for business owners.When an account is behind on payment and in collections, you will regretfully learn that the concerned person has moved without leaving any forwarding address or contact details.

Debt Management Plans - 5 things you need to know

There are many good Debt Management Companies offering their services who will negotiate with your creditors and who have a track record of getting offers accepted. However, creditors do not have to accept reduced payments or freeze interest and charges and there is no guarantee that any existing or threatened proceeding will be suspended or withdrawn and any collection costs incurred by your creditors will normally be added to your debt.

The get-out-out debt double whammy starts by playing chicken with your bank

If you have a have high interest credit card you should be focused on lowering your interest rate. You will save money on your minimum payment which can be applied to a payment that will save you thousands of dollars in interest. While it may be clear to you that lowering that monster interest rate makes perfect sense, your bank or credit card company may decide not play along as nicely as you would hope.

Understanding Insolvency

When the companies fail to meet its debt as and when they are due, it can be termed as the beginning of insolvency. When the legal action gets enacted against an insolvent company, it is referred as bankruptcy.

The Advantages of Debt Management

We take on debt in the sincere belief that we would be earning a stable income for the near foreseeable future and that we will be able to easily manage all our monthly repayments on time. But life as we know it comes with its share of ups and downs and we may be forced to go slow on our monthly debt repayments because of certain unavoidable reasons.

How Living Within Your Means Can Make Life More Enjoyable

Credit card debt is a major source of financial hardship. If you have several credit cards with high outstanding debt, you should at least pay the monthly minimum for each card, and then start to pay off the card with the highest interest rate. Owning fewer credit cards will make it easier to manage and remember.

Debt Stress Testing in Australia

A debt stress test is a method of determining if one's finances are sturdy enough to handle an unexpected shock such as unemployment, extended illness, or divorce. Many Melbourne mortgage brokers will offer (or even require) this service before making a loan, to ensure that a borrower can continue to make timely payments even in the result of a financial disaster.

Debt Relief: What Are the Options?

As the holidays come to a close and the tryptophan stupor wears off, the reality begins to set in. How are you going to pay off the wonderful presents you bought for your family and friends? As the bills come due, you may be in over your head. If you are, you might want to explore the options at your disposal.

Making a Change

With the festive season approaching, many people are looking for ways in which to save money so as to be able to afford the kind of Christmas they are used to celebrating. However, the end of one year brings about the start of another, so heres a quick look at a few New Years resolutions you could make in order to fix your finances in 2010.

Tackling debt head on

A big problem, leading to growing consumer debt is lack of knowledge and awareness, according to debt charity, Credit Action. The Supreme Court recently overturned a ruling concerning overdraft and bank charges.

Debt reduction strategies

Recent figures indicate that the average UK household is 58,280 pounds in debt. Whats more, 27 per cent of us owe money that we are struggling to repay. Financial problems can be stress-inducing and debilitating, so if youre saddled with repayments that you cant meet its time to take action now.

Bankruptcy Alternatives

If your debts are out of control, there are a number of alternatives to bankruptcy that carry less of the associated restrictions, for example an administration order, an Individual Voluntary Agreement (IVA), a Debt Relief Order (DRO) or an informal arrangement.

Debt Management Solutions

Financial sector has undergone many changes in the last century, but the most popular and effective one, which moulded the shapes of our lives even now, is the credit loan. People are increasingly moving towards the credit financing and loans rather than paper currency.

What Happens With The Voluntary Liquidation Of Creditors?

The board of directors of a company have the authority to declare that the company is not performing well, and should be shut down, for that matter, a major shareholders meeting is called on.

You Have The Ability To Live Debt Free

When my husband lost his job several years ago, we quickly found ourselves in a pile of debt. Our credit card balances began to increase. My husband and I soon discovered we weren't able to make the credit card companies' minimum payments. We thought up ways to decrease our average monthly interest payment for our credit card balances;

How To Get Out Of Debt

If you're buried in credit cards and have creditors calling you every day, you may wonder how you will ever get out of debt. This article will walk you through the process and teach you how to get out of debt as quickly as possible, no matter how far in debt you are.

Can I Sort Out My Finances Without An IVA?

Debt is something that most of us deal with in our daily lives. With the extensive use of credit cards and taking on too much loans, debt becomes a serious issue. Experts guide you professionally and proficiently to deal with your debts and get hold on the situation of huge debit problem.

The Extent Of Your Financial Problems

It is indeed a task to keep track of the expenses. Most people do not understand what to do with the saved money, while the rest of them do not know how to save it at all, with everything that they have to buy. After all, living on Earth is a long shot from being free.

Getting Rid of The Myths Of Quick And Easy Ways To Reduce Debt

Results of some studies show that a considerable number of people spend nearly 10% more than what they earn every month, and this overspending often causes them to be in debt when they do it repeatedly each month. Soon the time comes when they have to face serious credit difficulties.

How Does An IVA Help You Out Of A Debt Crisis?

An Individual Voluntary Arrangement permits an individual to pay a smaller amount than what they owe in reality to the debtors; it is a legal fastening arrangement between a debtor and a creditor. This provides a substitute to bankruptcy, but one can decide to take an IVA even if they are previously bankrupt.

Opting The Better Option Out Of Bankruptcy And IVA

The financial crisis in the entire world is increasing day by day. This eventually leads to the difficulty in managing household expenditures, due to which it becomes necessary to take loans, leaving you with the mess of debt. You fulfil the needs of your family and kids by putting yourself in financial turmoil.

Debt Is A Common Problem

These days millions of people in the country and all over the world are facing the problem of having too much debt. The real problem however is that eliminating these debts is not an easy task. However, all is not lost since there are various strategies you can use to eliminate those debts and save yourself some money.

Have You Got Student Debt? Here Are A Number Of Wonderful Tips

Many people have to use student loans to complete their education. If you were one and are now faced with student debt, the federal government has some very good news for you. There were two new programs that began in July 2009 that can help you to pay your student debt in full.

How You Can Get a Mortgage After Bankruptcy

If you want to get a bankruptcy mortgage, the key is to be patient. What the experts recommend is that you wait at least 2 years before you apply for it. Generally, lenders have an unwritten rule for loan applications after bankruptcy.

Bad Debt vs Good Debt

Good debt simply refers to people have debts but they do have enough money to pay their debt. They have money in their banks so do not really need to get in debt in order to live. They simply use credit for purchases like using credit card to buy new clothes or new appliances.

Debt Advice is always at hand

Many people are getting into a great deal of debt due to various reasons that are sometimes no fault of their own. For instance some people find themselves facing debt after a death of a family member, a divorce or even a separation and/or becoming s single parent.

Bankruptcy FAQ's

Bankruptcy can be a traumatic and difficult experience. Not only will there be financial repercussions and possible court hearings but also emotional distress and ramifications for your work and family. When considering bankruptcy as an option it is worth taking these emotional and logistical considerations into account before making any decisions.

Understanding the Impact of Liens

A lien is a security interest held by a lender or service provider on an individuals property, effectively turning the property into collateral pending payment of the outstanding amount owed. A lien may be consensually applied to property, as is often the case with mortgages (especially second mortgages) and mechanics liens related to financing property improvements.

Should Your Business Use Debt Collection Agencies?

Collecting debt is one of those tasks that most managers and business owners cringe when they think about. If you're trying to decide whether or not to hire debt collection agencies to take care of it, there's no time like the present. Following is a discussion of the many reasons debt collection agencies can help you and an explanation of what exactly they do.

Getting Out of Debt through Christian Debt Management

Every sector in the world is now struggling as the claws of the global economic downturn fight to pull us down. Practically every business, individual and family has turned to loans or owing debts to partners, friends, family members or financial institutions just to get through financially. For people there is an alternative to help everyone overcome and break free from their financial chains that bind.

Texas Consumer Credit Counseling Services Drive Down Debt

They say that everything is bigger in Texas. This is true when it comes to geographic size because Texas is the biggest state in the continental United States. Unfortunately, the debt in Texas is pretty big too.

What You Should Know About Bank Debt Collection

Bank debt collection comes with a different set of rules, practices and goals than regular debt collection. One of the main reasons for this is the fact that bank debt is often secured debt while other debt is usually unsecured. Here's a primer on bank debt collection that will help you understand its intricacies so you're better able to choose a collection agency.

What is PPI Recovery?

Today there are a lot of people out there who are unable to make payments on their credit cards, loans, and mortgages. Debt eats at you, and it definitely gets the best of you - especially when it comes to interest. High interest rates can be a plague. The worst thing about interest is it never stops. In fact, it never even sleeps.

The Bankruptcy Procedure - Debt Free In 12 Months

Opting for liquidation is a significant decision of your life as it can renovate your life forever. It is a decision taken as a very last remedy to pay hush money to such a liability that has become intricate to reimburse during the process of installments. Before going bankrupt, you must know about resources both liquid and fixed lying with you, which can pay off your intact or may be most of the underlying debt.

Credit Card Debt: How To Benefit From Pro Debt Managment

Financial management proves to be a difficult undertaking with the many financial points to consider and budgeting concerned.

Debt Management Scotland:Solution to Cut Debt Quickly

It is very important to know debt management if you owe someone or if you owe a company. You must understand your options in managing your debt to be in control of your debt rather than it controlling you.

Debt Collection Management Techniques

Debt collection is a troublesome thing. There's lots of debt collectors who will unoften see the money that is owed to them. The reason is because it is not complex for a debtor to ignore the efforts by a debt collector to contact them. Unpaid debt has become such a difficulty that plenty of debt collectors had to a create management system to make certain that their debt is collected.

Changing Personal Circumstances Leads to Debt Management

In the past few years we have not heard a great deal about debt management. The reason has been that credit was very readily available and it was rather easy to transfer one unmanageable form of debt into some other form of debt and thus stay solvent.

California Couple Awarded $500,000 in FDCPA Case

Last month, Manuel and Luz Fausto won one of the largest collection awards documented in the last couple of years under the Fair Debt Collection Practices Act (FDCPA) against Credigy Services Corporation. A California jury awarded the Faustos $500,000 in damages caused from harassment by Credigy collectors.

Debt consolidation:Reduce Your Debt

When you are working to revive your credit, you are moving towards a brighter future. Remember, each bill you pay off takes away the sum owed. Debt consolidation is like cutting grass, in the turf looks fresher once the weeds are struck.

How To Start Debt Collection

Debt Collector is a person who works on behalf of the creditor being the person or company that provides either goods or services as being their primary business. As the name suggests, the person collects the debts for a creditor that have fallen overdue and outside of credit terms agreed to previously.

Transform Your Debt With A 1031 Tax Exchange

We all know that the 1031 Exchange is used for transferring equity from an old property to a replacement property. What is not customarily known is that you can use some of the equity from your property through proper refinancing. You can use pre-exchange refinancing or post-exchange refinancing.

How Debt Relief and Your Credit Score Can Save You from a Financial Mess

A really unhealthy credit score can bring about one giant headache and shatter a lot of people's dreams overnight, preventing them from carrying out important financial functions like securing loans, negotiating for lower interest rates or having credits approved.

Legal Help for Debt Resolutions in UK

If you're currently facing debt problems, you will definitely need expert legal help. However, the reason why many people shy away from legal advice is because of the high costs that come along with it. If you want instant debt relief, you have to get a lawyer or attorney that specializes in that area. There are certain organizations that provide free legal help and advice. Aside from that, there are also legal advisers and companies that give initial free advice but will later on encourage you to sign up for their services.

Saving Up with Credit Card Debt can Hurt You

Do you have both debts and savings? Chances are you are dangerously overspending your money and you are in a crucial situation. Why is it so? Read a little more.

What Help Is Available To You If You Are In Debt?

Fiscal dilemmas can come up quickly, and can be very taxing. The main difficulty is that we usually don't know who to get advice from when we get into debt. This article is to give you the essential information concerning the options you have when you are facing trouble such as debt. Luckily, there are quite a few organisations nation-wide that give aid to people who have fiscal concerns.

Top Ways To Handle Your Money

As the world financial systems get sluggish and go into recession, the need to control individual finances grows. In an economical condition like this, we should do all we can to keep away from debt. Furthermore, there comes a need to put together savings to assist us in case of bad financial times such as unemployment. Here is some advice on how to manage your money:

Debt Solutions - Consider the Options

People get into debt for many different reasons, this could include job loss, divorce, over commitment on spending or even a new baby, whatever the reason, there are various solutions available to resolve a debt problem.

Managing Your Credit Card Debt the Right Way...

With the recent economic downturn, people are more concerned about debt management than ever. It’s common to accumulate a lot of debt in various places - car loans, school loans, mortgages, and credit cards, just to name a few.

What is Debt Settlement ?

With the rising financial strain on many consumers, arrears in repaying outstanding debt can prove to be overwhelming. As job losses and rising retail prices take its toll on the average citizen, debt settlement may be a viable option for many of us with mountains of debt. Debt settlement is essentially an agreement to rearrange debt repayments in a manner that is easily manageable for the debtor (person servicing the debt) and acceptable to the creditor (person or institution that is owed the outstanding amount).

Insolvency Practitioners

If you have to undergo the unfortunate event of having to declare yourself insolvent, then it is never a good idea to do it with out consulting a licensed insolvency practitioner. Since your financial situation is at stake, you need to try and come out the other end as lightly as possible. Yes, you will have to admit that you have made bad decisions and errors regarding your finances, but most legal systems can drive you into the ground if you let them. An insolvency practitioner is a qualified individual that has by law, learnt to understand and practice within the legal system of the country that you are living in. The reason for that is because legal systems vary from country to country and you may have different rights and limitations that are applicable.

Good and Bad Debts

Segregating debts into good and bad debts will help borrowers to have better debt management. Some debts are more favorable than other debts. Some debts may be a good investment and they are definitely good debts. Others may ruin the reputation of the borrower and they are bad debts.

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