It’s no secret that the European Debt Crisis has left millions of individuals across Europe with serious financial problems. It isn’t just the small people that are struggling either – entire countries have had to ask for financial aid from the rest of the European community. What’s more, even though the UK refused to adopt…
Outstanding personal debt is at an all-time high with £1.4 trillion worth recorded at the end of January 2013. It is evident that many of the British public are struggling financially and this has resulted in a spate of panic lending from financial institutions. In January 2013, the average household had £53,972 of debt (including…
It`s all too easy to run up a hefty credit card balance without really noticing. If you are only re-paying the minimum payment every month, your debt will increase steadily until it may start to pose a real problem. At this point many people may start to consider transferring the balance to a 0% or…
Roughly one in four home-owners who re-mortgage their homes do so to pay off unsecured debts such as those built up with credit cards. Consolidating your debts by taking out a new mortgage to pay them off in one go is not a decision to be taken lightly but it may well be a sensible…
The Office of Fair Trading (OFT) in July 2003 (revised Nov 2012) released guidance notes for licensed debt collectors in the United Kingdom setting out the expected standards of all parties involved in the recovery of consumer credit debts. Reported behaviours of debt collecting companies were used to compile these guidance notes and therefore this…
Successfully managing debt can be a tricky endeavor in many cases. With many forms of debt carrying high interest rates, repaying an outstanding balance can take a considerable amount of time, especially for those struggling just to keep up with interest payments. However, borrowers have two major options of making debt repayment more convenient and…