Category: Debts

Is Debt Consolidation a Good Idea For You?

As unsecured personal indebtedness continues its rise to historic levels, many citizens of the UK are looking at consolidating their various debts in order to lower their monthly payments on the debt. For some, this might be a prudent exercise. For others, however, rolling numerous debts into one loan or placing them on a credit card could be yet another step toward financial disaster. The trick is determining which is the case in your individual circumstances. When to consider consolidating your debts To be blunt, the time to begin weighing your options is when the longest list of available options remains. Start by creating a complete list of what you… read more >>

Method for Repaying Outstanding Debts

When you are facing a mountain of debt, you may have no idea where to start making payments. The large sums are intimidating when you only have so much income to work with. Once you start adding in the various interest rates attached to each debt, it quickly becomes unclear which debts should be tackled first. You need to choose which debts to make a priority, but cannot decide which should be repaid immediately and which can slide by on minimum payments until more money is made available. You need a debt repayment plan to determine which of your debts should come first. While there are many debt advice companies… read more >>

University Students Using Payday Loans for Daily Necessities

Heading off to university is both a thrilling and daunting prospect for many young adults. The challenges of living away from home, combined with getting a top notch education that will lead to a promising career, put many students under financial pressure. After acquiring their student loans, they are expected to manage their money while no longer under their parents’ watchful eyes. When they want to relax and have fun with their new friends, they may not have the financial discipline to consider their outstanding obligations. Many university students are turning to short term loans to fund their nights out, and sometimes just to afford their day to day expenses…. read more >>

Use Debt Advice to Help Manage Balances

As much as we’d like steady financial fortunes, inconsistency is a natural part of personal money management. Incomes rise and fall alongside expenses, which evolve in ways that aren’t always within our control. To stave-off disaster, try to stay prepared for the worst, using savings and responsible borrowing as part of your debt management strategy. And when you do encounter difficulties, consult with those best able to assist you. Regardless of the root of your financial distress, there are charities and advisors willing and able to help you navigate the sometimes complex credit and debt markets. Help includes general recommendations about budgeting and long-term financial management, as well as full… read more >>

Managing Debt for Financial Success

Debt is a natural part of most people’s financial lives. So while it receives a fair share of negative attention, it is important to accept the fact that reasonable levels of debt are carried by most consumers. This is not to say runaway spending and unmanageable credit balances are the best path to prosperity, only that owing money is not necessarily a recipe for financial distress. Responsible financial management accounts for debt, keeping proper balance between what is owed and the income used to pay outstanding obligations. However, even the best laid plans occasionally come undone, creating cash flow difficulties and excessive debt burdens. Fortunately, staying true to a few… read more >>