Even though it can often feel that there’s no way out of bad debt, there can sometimes be quite a lot of options open to people who are facing debt problems. In fact, there are so many options that sometimes it can quite difficult to decide upon the best debt solution to suit your circumstance. So, how do you know who to listen to? Obviously, the right debt advice from the right person can help you to get out of debt. However, just because it worked for your relative, colleague or neighbour doesn’t mean it’s the right option for you. There’s also advice from a specialist debt advisers, who again can help you get out of debt. Always be sure that this debt advice is tailored to suit your circumstances and the debt advisor has a true picture of your financial worries, as bad advice could keep you in debt. In fact, it could make your situation even worse.
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Archive for the ‘Debt Aid’ Category
The perils of bad debt advice
Friday, September 18th, 2009Who needs debt advice?
Thursday, September 17th, 2009There’s a lot of information floating around on the best ways to deal with debt. A lot of it can be quite difficult to understand, a lot can be over-simplified and a lot can be downright contradictory.
Navigating this sea of advice can be difficult, particularly when the advice comes in the form of industry jargon. It might take a while to grasp the different options at your disposal and under mounting financial pressure; time is often a commodity that becomes more and more valuable. (more…)
Is debt management an option?
Wednesday, September 16th, 2009Debt management companies negotiate on behalf of the borrower, in an effort to reduce the monthly amount that they need to repay towards their unsecured debt. They can only deal with unsecured debts, not secured mortgage payments, so this is the first factor in deciding whether or not a debt management company is an option for you.
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How do you improve your Credit Rating?
Tuesday, September 15th, 2009The causes of a bad credit rating are no mystery, it’s often down to those debts and unpaid bills. There’s no magic formula for fixing it either but by following these five simple steps to control that debt, you could get the healthy and sustainable credit rating that’s the cornerstone of everything from big-ticket purchases to starting your own business.
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Stop loan sharks
Friday, September 11th, 2009Loan Shark 101
Loan sharks, or the ‘home credit industry’, are people who lend money without a licence from the Office of Fair Trading. They lend money illegally and at much higher interest rates than licenced financial institutions.
