Published in Debt Advice Features on Monday, May 23 2005 0 Comments

It is no secret that most people have too much consumer debt. It is all too easy to just sign your name on the dotted line and run that credit card up to the max. Unfortunately, many users of credit cards seem to forget that eventually the bill comes due, and they may be in for a rude surprise when it does. Credit card interest rates are notoriously high, even for consumers with good credit. Where a secured loan from your bank or credit service might cost you 8% or 9%, interest rates on typically unsecured credit card loans can be 18% or even higher.

Published in Debt Advice Features on Monday, May 16 2005 0 Comments

A trend of running credit checks on prospective employees is starting to alarm job seekers. In recent years an increasing number of employers have begun using credit checks as part of their standard selection process when hiring new employees. Employers state running credit checks is a good way for them to determine which candidates can be considered responsible and which ones can’t. They look to past and present credit problems as an indication that prospective employees might be irresponsible in their professional lives and may have the potential to mishandle funds. Apparently, employers feel that given the right, or wrong, circumstances anyone can behave in an uncharacteristic manner and become a potential thief. This trend is becoming increasingly popular in industries where employees handle large sums of money or else have access to perks like expense accounts. Companies are also concerned employees with money problems might be tempted to develop sticky fingers and lift expensive objects they can later sell to raise cash.

Published in Debt Advice Features on Monday, May 16 2005 0 Comments

It is no secret that more and more people are finding themselves in need of debt reduction services. With more and more consumers carrying every increasing levels of personal debt, it is no surprise that so many find themselves unable to pay their monthly bills.

Consumers in this situation are often not to blame for their predicament. It is also no secret that wages have not been rising as fast as prices. As a matter of fact, a recent survey found that real wages – that is wages adjusted for inflation – have actually been falling for quite a number of years. With circumstances like that it is no wonder that so many people find themselves so deeply in debt.

Published in Debt Advice Features on Monday, May 16 2005 0 Comments

Business debt can be a difficult subject to tackle. Any business owner or executive can tell you how hard it is to run a business. Unlike the nine to five racket, owning a business means that your income will be irregular, maybe lots of money came in last month and next to nothing this month.

With that kind of irregular cash flow, it can be extremely hard to meet the very regular expenses that come with running a business. Things like electricity, water, heat, lease payments and employee salaries have to be paid no matter how much money is coming in or not coming in. With realities like this, it is not hard to see where business debt comes from.

Published in Debt Advice Features on Friday, May 13 2005 0 Comments

It is no secret that consumers these days are carrying more and more debt. At the same time, personal savings rates have never been lower. It does not take a financial expert to see the problem with this situation. As consumers take on more and more debt, even the smallest financial setback can quickly spell disaster. One of the simplest ways to get a handle on debt is through the judicious use of a realistic monthly budget.

Published in Debt Advice Features on Wednesday, April 27 2005 0 Comments

It is not surprising that more and more people seek credit counselling services every year. Levels of consumer debt have never been higher and savings rates have never been lower. Given these two volatile facts, it is not surprising that even a small financial setback can quickly spiral out of control and leave you with more debt than you can handle.

When consumers do get in over their heads, a good consumer oriented credit counselling service can help them to not only pay off their current debt but to learn how to avoid debt in the future. Consumer education is one of the most important aspects of quality credit counselling, and consumers who seek help should be sure that consumer education services are included as part of the debt advice services they offer.

Published in Debt Advice Features on Wednesday, April 27 2005 0 Comments

Your credit report is one of the most important documents in your financial life. It is essential to know what is in your credit report and how it got there. Your credit report comes into play any time are planning to buy a home, buy a car, apply for a loan or even apply for a job or take out care insurance.

Published in Debt Advice Features on Wednesday, April 27 2005 0 Comments

UK county court judgments can prevent many borrowers from getting the loans they need. If you have a UK county court judgment, it may be a good idea to consolidate your debt and pay it off. Paying off the debts you owe can go a long way toward clearing your credit and getting you back on the right financial track.

Published in Debt Advice Features on Wednesday, April 27 2005 0 Comments

For many years now, the rate of consumer debt has been growing steadily, year after year. At the same time, rates of personal savings have been declining, thus leaving people with a smaller and smaller cushion to help them through a financial crisis.

It is no wonder then, that even the smallest financial setback, like car repairs, home repairs or the loss of a job, can trigger a dangerous spiral into ever increasing levels of debt. It may seem like you are stuck with debt, but there are steps that smart consumers can take to reduce and eliminate what they owe.

Published in Debt Advice Features on Wednesday, April 27 2005 0 Comments

Each year thousands of prospective homeowners are shocked to discover their credit history will keep them from their dream of home ownership. While it may seem surprising that an individual could know so little about their own credit score, the truth is that far too many consumers go blithely through life, unconcerned about how their financial actions my effect their future plans. While consumers may be aware there are a few spots on their credit score, they do not realize the full impact their actions have and the adverse effects until they are denied a loan. If asked what they thought their credit score to be, consumers generally respond they believe their credit score to be fair or good. In reality those same consumers have absolutely no idea what their credit score is because they have not taken the time to run a credit check or to research the qualifications for having an excellent, good, fair or poor credit rating.