There are a lot of means by which criminals can help themselves to the hard earned cash in your bank account. Too often, the first we know about this kind of fraud or identity theft is when it affects our credit rating and impacts on our own ability to secure credit, or we get stuck with a massive bill. Either way, it’s something we all have to be mindful of. Harrington Brooks are one of the longest established and most highly respected financial institutions in the UK and they have provided this list of the top ten techniques for fighting the fraudsters so you’re better equipped to keep yourself and your savings safe.

1. Keep a grip on your bank account.
Account takeover is where fraudsters impersonate you by gathering your personal information and then contacting your bank. This is essentially identity theft and while posing as you, they can transfer funds out of the account or change the address on your account and request replacement cards to be sent to the new address. So, shred any sensitive material and make a note of when your statements are due. If they’re delayed, it could mean they have been intercepted.

2. Be safe with pin numbers and passwords.
Don’t write down your Pin as you run the risk of fraud and if the worst were to happen, your bank could refuse to refund you will be thought of as negligent. Never share your Pin with anyone and try to use different passwords for all your accounts.

3. Bring down your credit limits.
This is essentially an act of damage limitation. Reducing your limits can cap any potential losses if your cards are stolen. Keep an eye on lenders increasing your limit without your consent too. New laws will give you the power to opt out of these unwanted credit increases.

4. Cancel any cards you don’t use.
With 66 million credit cards in the UK and only 49 million adults, it stands to reason that people have more than one. Check what cards you don’t use anymore and cancel them. The fewer cards you have, the less likely you’ll be a victim of fraud.

5. Don’t get caught out by phishing.
“Phishing” is when an email is sent to you by fraudsters, claiming to be your bank. Chances are, it’ll have your bank’s logo and give a return email that looks genuine. Normally, you’ll be warned about a breach of your account and to log in. Then you’ll be sent to a fake site that collects your details for the fraudsters. Your bank will not email you if your account has been breached, they’ll phone you.

6. Stay close to your bank.
Not physically, but give them your mobile number so they can contact you swiftly, if anything does happen. If you’re going to do a lot of shopping, it makes sense to inform your bank. Tell them before making a big purchase you’re going overseas. Make sure you have your bank’s phone number on you too, just in case.

7. Consider a pre-paid card.
You can just top up the card and use it like a credit or debit card, it has Chip and Pin so can be used securely in shops and you can use it to draw money from cash machines. It isn’t linked to a current account or credit card though, so you can’t over extend it. You’ll normally pay a fee to take out a prepaid card though.

8. Keep an eye on your statements.
Get into the habit of going through your bank and card statements, rather than just tossing them aside. Your statement tells you exactly when and where the card has been used, so if it wasn’t you or there are any suspicious transactions, let the bank or card company know straight away.

9. Guard against viruses.
Many banks offer free security software to protect your computer from attack. A virus will normally wait until you log in to your online banking and insert a dummy page. If you enter your personal data it will be sent via the virus to the fraudsters.

10. Keep a grip on your card.
Criminals can get hold of your card details by skimming the card through a special machine that stores the data. They then transfer the info to a fake card and use it in countries that don’t have Chip and Pin readers. Chip and Pin readers are hand-held so you can see what’s happening. They shouldn’t need to take your card anywhere.

Harrington Brooks are here to help you with a host of financial queries. If you’re worried about fraud, debt or other financial issues, stop by www.harringtonbrooks.co.uk and get in touch with one of our dedicated, impartial financial advisors.

Well, we’ve made it through the recession; the next challenge will be surviving the recovery. Families must face up to the fact that their finances suffer more this year than they did last year, during the recession. The reason for this disheartening news is that the recovery stands to bring about inflation, increased interest rates, higher taxes and more expensive household bills. So, the message from financial analysts and debt advisors is clear; we’re not out of the woods yet.

Here are Harrington Brooks’s top ten tips on surviving the recovery.

1. Protect yourself against losing your job.
You should consider taking out some kind of redundancy protection. Unemployment has fallen a little but it’s smart to take out insurance against losing your job while you still have one.

2. Be prepared for a pay freeze.
Pay freezes are set to become more common and it’s likely to be down to firms controlling costs by freezing your pay. For a lot of people, the recovery is going to feel just like the recession.

3. Try to fix your mortgages while rates are low.
Avoid the rising interest rates by entering into a fixed rate deal in the next few months. However, the good news is that the number of mortgage deals will continue to increase.

4. Keep a close eye on your credit card limit.
Credit card companies are beginning to authorise higher credit limits, without actually asking their customers first. Although this may seem a great deal for if you’re struggling to pay bills, you’re just saving up the debt for later.

5. You shouldn’t bank on a rise in house prices.
Strangely, house prices ended up higher at the end of 2009 than at the start. However, the average house price in the UK is £169,000 and according to Halifax, it’s unlikely to climb much higher. Rising mortgage rates and growing unemployment will make it hard for many to move home.

6. Get advice about tax.
Tax can only go up. Some suggest that VAT could rise to 20 per cent after the election. Protect yourself by getting a good tax advisor.

7. Avoid tying your savings up for too long.
People who are heavily dependent on their savings should be careful about tying up their money for too long. What seems a great deal now, may not look so good in a few years.

8. Pay the maximum amount into your pension.
Since inflation eats into your savings, a set some of money will get you less at the end of the year than it did at the start. However, pensions tend track inflation because they invest in Government bonds.

9. Be sure to budget for an increase in household bills.
A fixed deal from your energy company might look more expensive now but will prove good value if tariffs climb. Wholesale energy markets will rise in line with an increased demand. So, your utility bills are likely to climb too.

10. Clear your existing debts now.

Freeing yourself from the burden of bad debt as quickly as possible will hopefully allow you to avoid rocketing rates of interest. Talk to a dedicated debt advisor about the best debt solution to suit your circumstances. Visit www.harringtonbrooks.co.uk and take the free, no obligation debt test to find out your best option.

Christopher Biggins, yet another of the ‘I’m a Celebrity’ alumni to have faced bankruptcy, is now back in the black and thankful for his experience. He provides an insight into the financial factors that can have such an impact on the lives of those that do not have the benefit of a stable income. For celebrities, or those in the entertainment industry, there are few jobs that guarantee a stable income for an extended period. However, even though the work can come and go, the spending is constant. This is an understandable situation to people who are self employed but essentially, the spending habits of celebrities are in a different league to most of us. This doesn’t mean that their excessive spending can’t serve as a cautionary tale though.

For Biggins, when the work didn’t come in fast enough to keep pace with the spending, his mounting debt spiralled out of control. He took financial advice and decided that enough was enough. He was advised that declaring bankruptcy was the best option for someone facing his level of debt and has recently been quoted as saying that declaring bankruptcy was the best thing that’s ever happened to him.

Why would such a severe debt solution be the best solution to his spiralling finances? Well, for Christopher Biggins and those others that struggle to keep control of their spending, the bankruptcy petition limits your access to credit, allowing you just a basic bank account. For those that lack the discipline to manage their own personal finance, bankruptcy can take away some of the temptation to spend. It’s not the only debt solution on the market though. Bankruptcy is the most severe of the debt solutions and can have serious implications. There is the chance that you could lose your home or other valuable assets to service your outstanding debt. For many, an Individual Voluntary Arrangement could prove to be a far more attractive proposition.

Your first step should always be get debt help from a specialist debt advisor at the earliest available opportunity. With an IVA, providing you stick to an agreed payment plan, which is normally a term of 60 months, your creditors will write off any remaining debt. They will also freeze the interest on your debt and together with an Insolvency Practitioner, you’ll draw up an agreement with your creditors to repay your debt in reasonable, affordable monthly payments. As one of the longest serving and most respected financial institutions in the UK, Harrington Brooks can provide the dedicated, professional support you need to guide you through this difficult time.

Although Christopher Biggins was able to keep hold of his home and other valuable assets, like his extensive art collection, things could have been very different. For many, bankruptcy proceedings lead to seizure and repossession of these assets in order to pay off the debt. A key benefit of the IVA over a bankruptcy order is the security it provides to your assets. Upon reaching an agreement on the terms of your IVA with your creditors, there is a reduced possibility that your home or any other significant asset will have to be sold in order to service your debt. There is also still a certain stigma surrounding bankruptcy and an IVA has the added benefit of being more private, not being published in your local newspapers and the London Gazette, although details are available online.

Visit www.harringtonbrooks.co.uk and use the fast, free debt wizard to work out the best debt solution to suit your specific circumstances.

Such is the extent of the mounting backlog of bankruptcy applications in the UK; the government is proposing to introduce a new system of online, self-service insolvencies. Essentially, for those people who which to declare themselves bankrupt, they will be able to avoid the trip to court and the huge queue that it entails. In some areas of England and Wales, the wait can be as long as three months between making the initial application to the court and being granted a bankruptcy order. This is a huge amount of time for those facing the most severe financial difficulties to wait for an injunction to save them from their creditors. The new measures are intended to cut this highly stressful and potentially damaging waiting time from months to days.

Of course, bankruptcy should be the debt solution of last resort when you find yourself facing the problem of mounting debt. After all, your home and other assets could be sold to help pay off your creditors. Also, after your living expenses are deducted from your earnings, the remainder might be used to make monthly payments to your creditors as the result of an Income Payments Order. Not to mention the lasting implications on any future career plans and damage to your credit rating. Bankruptcies are also listed in your local newspaper so there is the stigma surrounding insolvency to deal with too. If you were thinking that these things, as difficult as they may be, it is worth remembering that your student loan, outstanding fines, child support arrears some other debts aren’t covered. It’s essential that no-one look upon this as an easy way out of quick-fix debt solution.

There are other debt solutions out there and it is imperative that you seek out specialist debt advice as soon as you find yourself in financial difficulty. The sooner you address the problem, the less severe the solution. Everyone’s financial circumstances are different so to find a solution that suits you try the free, 15 second debt wizard at Harrington Brooks, one of the longest established financial institutions in the UK.

The former Eastenders star, Joe Swash was unsuccessful in his attempt to clear a £120,000 debt to Her Majesty’s Revenue and Customs within a given time limit and as a result has been declared bankrupt. He could not keep to the repayment schedule proposed by the courts and had an outstanding debt of £20,000 by the imposed deadline. It has been claimed by Swash’s management that there are no other creditors named in the petition. However, the contributing factors responsible for the insolvency petition are not entirely clear so the suitability of filing for bankruptcy as a debt solution in these circumstances is also open for debate.

After being fired from BBC One soap Eastenders in 2006, Swash signed up for ITV’s show “I’m A Celebrity… Get me out of here!” and went on to win the competition. A period of success followed, with a few television appearances and a contract with Living TV to appear opposite Pamela Anderson. However, this rekindled fame failed to save Swash from the taxman after his apparent “oversight”. Yet, was Swash right to go for Bankruptcy as his debt solution of choice? His assets have now been seized by the Official Receiver as a result of a bankruptcy order from the High Court of Justice in London. Many individuals facing mounting debt view bankruptcy as a last resort. When facing truly unmanageable debts, there are often other debt solutions, like the Individual Voluntary Arrangement (IVA) or a Protected Trust Deed, which can be more favourable to people in financial difficulty. First of all, other debt solutions can be kept out of the press. Bankruptcy is a matter of public record and is published in your local paper. Thus, the stigma of an insolvency declaration, such as that currently surrounding Joe Swash, can be avoided.

For example, the extensive tabloid coverage of former England and Liverpool footballer John Barnes’ bankruptcy was looked upon significantly less favourably than ex-Men Behaving Badly actor Neil Morrissey’s decision to tackle his mounting debt with an Individual Voluntary Arrangement. Although the widespread employment of debt solutions and the current financial climate have resulted in far more common tales of debt woe, there is still an unhealthy stigma surrounding debt management, solutions and even a desire to seek out arrears advice and the wider subject of debt help. Essentially, taking quick action in addressing your debt is the most important thing to do. There isn’t a quick fix for mounting debt and there is no solution that will be ideal for everyone. Take the free, 15 second debt wizard at Harrington Brooks for a valuable insight into the right debt solution for your financial circumstances.