Debt can be very worrying and lead to health problems. You can get out of the fix no matter how bad you think the debt problem seems to be and below are a few ideas. The first steps are not to panic and not to ignore the problem. Avoiding Panic not Avoiding The Problem Gather [...]

This is an update of an article I published several years ago. Debt is still a problem area and it is worth trying these easy steps to help overcome the worst of the consequences. 1. Don’t Panic If you find yourself in debt, don’t let it dominate your life and thoughts. The best way to [...]

The credit crunch refers to a sudden shortage of funds for lending, leading to a resulting decline in loans available. A Credit Crunch can occur for various reasons: Sudden increase in interest rates (e.g. in 1992, UK government increased rates to 15) Direct money controls by the government (rarely used by Western Government’s these days) [...]

June 2011 Update Total UK personal debt at the end of April 2011 stood at £1,452bn. Of this sum £1,240bn was secured on property making the mortgage market the backbone of or personal credit. The growth in debt over the last year remained unchanged at 0.8%. Individual debt nearly totals as much as the entire [...]

Unnecessary debts can cause serious financial problems and needlessly create uncertainties in the economy. Ways to avoid unnecessary debts: Keep a track of Your Spending. If you have a habit of purchasing too much on credit and store cards, do without them for a while. Credit cards can be a very easy way to spend [...]

If you are facing a mountain of debt, there are several things that you can do to try and reduce your debt problems Don’t Panic. Do you remember why the Hitch Hiker’s Guide to the Galaxy is the most popular book in the galaxy – because it has the reassuring words ‘Don’t panic’ written in [...]

There is an interesting documentary on ITV tonight about some of Britain’s worst cases of debt. The programme entitled Repossession, Repossession, Repossession is likely to make grim viewing, but does highlight some of the reason for Britain’s growing levels of debt (a phenomena which is also occuring in the US) According to a survey by [...]

At university I took out the maximum student loan and put the money in a post office savings account. I made about 1% profit between the interest charged by the student loan company and the rate paid by the post office. I never used the money as a student, although it came in handy a [...]