Loan Consolidation in UK

Loan Consolidation involves putting your loans into one particular place to get the best rate of interest. A common example of how loan consolidation can help is if you have credit card debt that you pay 17% interest. If you can take out another loan at a lower interest rate then you can save yourself …

Why has debt Increased in the UK?

UK debt currently stands at over £1.1 trillion. Average Personal Debt (Credit Card, overdrafts and personal loans) = £3,170 note in Europe average personal debt only accounts for £1,588 Average Mortgage debt = £21,000 (note this is much higher than European Average) (Source 1) Causes of Increased UK Debt 1. Lower Real Interest Rates. Compared …

How to Manage Large Debts

If you are struggling to cope with large debts it can be quite demoralising and stressful.I wrote this guide, 10 Tips to reduce and eliminate debt, primarily for people struggling to meet credit card and loan debts. If you have a mortgage, in addition to loan and credit card debts, it is worth considering whether …

Cost of Mortgage Arrears

Mortgage companies, are in many cases, charging very high penalites for those customers who fall into arrears. However, the penalties and charges vary considerably from company to company. It is worth finding out what your mortgage lender will charge if you miss, even one month’s penalty. If you become aware of how much they charge, …

Help With Mortgage Arreas

Recent predictions by the Council of Mortgage lenders suggest that the coming months will see a marked increase in the number of home repossessions. If you are struggling to meet mortgage payments and fear slipping into arreas, there are a number of strategies that you can take. Government Help. The government doesn’t give much financial …

Tips for debt Settlement.

  Debt settlement is a very significant financial undertaking. It has the potential to radically effect your financial situation. If it works out well, you can write off alot of debts, reduce your monthly payments, reduce stress and in the long run lead you to being free of debt. 1. Prepare accounts. The first step …