An official from the debt management service Payplan has states that the level of debt management enquiries in the middle of January this year soared, as an increasing number of worried consumers faced up to the fact that they may struggle with their finances over the course of this year. (more…)
Posts Tagged ‘debt management’
Debt management enquiries to Payplan increase
Tuesday, March 3rd, 2009
Some debts could be written off by debt management firms and charities
Wednesday, June 4th, 2008New government regulations that have been introduced could result in debt agencies and charities in the UK being able to write off a portion of clients’ debts even in the event that creditors are not happy about the matter. Many people that are struggling with their debts now turn to debt management agencies and charities, and are often put onto a debt management plan, where they pay a set amount each month to the agency, and this is then distributed amongst the creditors on a pro rata basis. (more…)
IVA homeowners could face problems
Tuesday, March 18th, 2008Over recent years Individual Voluntary Arrangements, or IVAs, have become increasingly popular with borrowers that have found themselves in unmanageable levels of debt. With an IVA, if agreed, the borrower pays a set amount each month, which is then distributed amongst all creditors on a pro rate basis, and the term of the agreement is usually five years. At the end if the five year period any remaining debt is written off leaving the borrower debt free. (more…)
Options That Can Help Clear Your Debts
Sunday, March 9th, 2008These days, with the level of consumer debt in the UK at record highs, many people find themselves suffering from debt problems, and once these problems start they can quickly spiral out of control. Often, it is people with a number of high interest debts such as credit cards, store cards, and high interest loans, that find themselves experiencing problems when it comes to repayments, and with interest rates still high coupled with food, energy, and petrol costs on the rise, the financial outlook for those in debt can be very bleak. (more…)
Will IVAs become more transparent?
Saturday, March 8th, 2008In the past many consumers had no idea what an IVA was, but awareness has been raised over the past couple of years following a series of glossy advertisements run by a number of debt management agencies. An IVA, or Individual Voluntary Arrangement, is a legally binding agreement between a borrower and his or her creditors with regards to the repayment of debts. The aim of an IVA is to get the borrower out of debt more quickly, increase short term affordability for the borrower, and enable creditors to recoup some of what is owed to them. (more…)
What Happens if I Can’t Pay the Debt Consolidation Loan?
Monday, March 5th, 2007This is a very good question to be asking your self before taking out any type of loan or making any financial commitments. Debt consolidation loans are becoming increasingly popular with consumers in today’s over indebted market place. They are often available to those with poor credit histories and other borrowers who are considered high risk for various reasons. (more…)
Managing your debts
Monday, March 5th, 2007It is easy for debt to get out of control. Student loans, losing your job, becoming ill or any number of other unforeseen events can easily cause debts to mount up. Even more commonly, simply spending too much on credit and store cards will have the same effect. If this has happened to you, a debt management program may be for you. (more…)
General Loan Advice For Managing Debt
Monday, March 5th, 2007Debt is a really easy thing to get stuck in. Even if you are not extravagant monthly costs can spiral out of control, especially if you take your eye off the ball. So what can you do to avoid getting too far into debt and if you are there already how can you get out of it? (more…)
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