Category: Debts

Stop Losing Sleep Over Money Worries

If you’re losing sleep over the debts you racked up during the holidays, or the possibility that you might lose your job, or any other prospective threat to your financial well-being, you’re not alone. You’re also far from helpless, no matter how dismal your situation might seem right now. Coming clean about the “D” word One in four Brits claim that they are losing sleep over debts. And according to a study by Norton Finance, one in five people are feeling pressure from their family to keep on top of their finances, so they try to hide the extent of the problem when they fall short. A surprising number, especially… read more >>

There’s More Than One Way to Conquer Problem Debt

There is no getting around it: Britain is on a borrowing binge, and credit card debt continues to climb. Alas, every binge is followed by a painful hangover, and if you’re suffering the agonies of problem debt, you’re not alone. Fortunately there is a cure for what ails you. We’ve been spending like there’s no tomorrow Christmas debt is the gift that keeps on giving, well into the following year in all too many cases. But in 2016 credit card debt hit a record high well in advance of the 2016 shopping season. Households in Britain hold a total of £66.2 billion in credit card debt as of December 2016,… read more >>

Extreme Debt Management: Choose Wisely to Avoid Making Things Worse

Many people learn the hard way that it is much easier to get into debt than to get out of it. Fortunately, when personal debt gets out of hand there are numerous options available to fix the problem. The bad news is that there are no quick or easy fixes, despite what you may sometimes see in the adverts that promise to make your debts go away almost overnight. Here are some possibilities to consider when trying to figure out the best way out of your debt disaster. DMP, IVA or DRO? Oftentimes people who are having debt problems turn to lenders who offer various types of debt consolidation loans…. read more >>

Personal Financial Review Starts With Three Important Concerns

Personal money management is multifaceted, addressing wide-ranging financial concerns. In fact, daily demands can make it feel like your financial resources are being pulled in every direction. And though these day to day cash considerations require attention, effective money managers also find ways to step back for a “big picture” viewpoint. When they do, most recognise three distinct interests, dominating their financial concerns. Debt management, savings status and household budgeting represent key considerations for personal money managers. Understanding and embracing these three essential concerns sets the stage for ongoing success meeting expenses and establishing financial security for your future. Debt Control Outstanding balances owed for past purchases may be placing… read more >>

Climbing Out of a Debt Crisis

In mid-2015 the debt charity StepChange published a report revealing that 2.6 million people in the UK had a serious debt problem, and that an additional 8.8 million were facing moderate debt. The report described this debt crisis as “the new normal” and suggested ways to address the problem. It also explained how people who rely on credit to keep up after an “income shock” or a change of circumstances are substantially more likely to end up in severe problem debt than are those who are able to keep afloat by relying on benefits or on their own personal safety net of savings and spare income. Most money experts and… read more >>