Published in on Saturday, April 25 2009 0 Comments

Until a couple of years ago, many people were finding themselves thousands of pounds richer after claiming back bank charges (imposed when customers go beyond an overdraft limit) which were deemed to be unlawful. This process was great news for those in debt, as claiming for up to six years’ worth of these charges often added up to a nice sum of money which could be used to help with a personal debt management plan.

Published in on Friday, April 24 2009 0 Comments

According to the Office of National Statistics, the unemployment level in the UK has now reached over two million, and it’s expected to rise to more than three million. If this does happen, it will mean that around one out of every ten employable people in this country will be out of work.

Published in on Thursday, April 23 2009 0 Comments

IVAs (individual voluntary arrangements) are designed to help people who are in debt but wish to avoid bankruptcy. They are contractual repayment arrangements with your creditors which are legally backed and which don’t involve the high costs associated with a bankruptcy.

Published in on Wednesday, April 22 2009 0 Comments

If you follow a few basic guidelines for lodging, you should find the process stress-free and financially beneficial. However, there are some potential pitfalls that you should be aware of prior to making a final decision. These include:

Published in on Tuesday, April 21 2009 0 Comments

Does it make sense to consolidate your debts? Unfortunately, the answer to this question is an equivocal “yes and no”!

Published in on Monday, April 20 2009 0 Comments

In these credit-crunch affected times, you’ll see and hear a lot about “easy ways to get out of debt”. Of course, if you’re blessed with a decent amount of common sense, you’ll realise that this is largely nonsense. The truth is that there is no easy way out of debt. If there was, everyone would be spending like mad, then taking the easy route to being debt free.

Published in on Sunday, April 19 2009 0 Comments

If you have decided to jump on the bandwagon and start offering a room, or more than one room, in your house to a lodger, you may find that the potential benefits allow you to manage debts successfully without too much effort. However, taking in a lodger is not a decision which should be made lightly. It is a real commitment and one which requires time and thought to be a success, both for you and your lodger. There are several things you will need to consider if you decide to take on a lodger:

Published in on Saturday, April 18 2009 0 Comments

Many people balk at the idea of taking in a lodger, worrying that they will lose their privacy whilst having to make awkward chit-chat with a stranger! However, the trend of taking in a lodger has become increasingly fashionable during recent years and many people are now using it as a technique to help them stay out of debt by earning extra income using additional house space.

Published in on Friday, April 17 2009 0 Comments

Not surprisingly, there has been an upsurge in interest in mortgage payment protection insurance – MPPI for short. But is it really worth it?

Published in on Thursday, April 16 2009 0 Comments

Re-mortgaging in the current economic environment may seem like a crazy idea. But the truth is that with interest rates at an all-time low, anyone able to re-mortgage who is shrewd in their use of money would be foolish not to consider it as an option.