Tuesday, 4 August 2009

Top 10 ways to ride the recession

posted by debts.org at 23:40

1. Pay off your debts

If you have any spare cash, use it to pay off your debts. Money saved on your mortgage for example could be used to pay off credit card debts or store card debts or a bank loan.

2. Increase your mortgage payments

If you are benefitting from an interest cut, then why not put your savings towards your mortgage, which can help you avoid any unnecessary or unexpected debt in the future. You will own your own home quicker and you will stand a better chance of refinancing to a better mortgage rate.

3. Open a savings account

Any spare cash you have from interest rate cuts which affect your mortgage can be put into a high interest savings account. Treat this as your ´rainy day´ money and you could earn as much as 10% interest on your money per year. Shop around for the best deals which will see you save money, and not have to worry about debt problems in the future.

4. Invest in the stock market

Take advice and consider investing in the stock market. The best way to make the most of a falling market is to make regular modest investments which won´t break the bank and could include equities and bonds. You could invest your mortgage interest cut saving on the stock market or in premium bonds. Alternatively, avoid debt and debt management solutions by investing your money in an ISA.

5. Payment protection insurance (PPI)

You could invest in payment protection insurance on your existing mortgage or bank loan, which would give you some breathing space if you are made redundant or suffer an accident or injury at work. PPI will normally pay for 12 months of your mortgage if unexpected events leave you without an income, but make sure you read the small print first. Thousands of PPIs have been mis-sold over the past few years, and you can now reclaim money spend on these schemes through reputable and regulated debt advice companies.

6. Invest in your children

If your child was born after 2002, they are automatically given a non-refundable Government trust fund voucher which they can access when they are 18. Help to make their future easier by opening or adding to a child trust fund which is tax-free. The maximum amount which can be paid in to a child trust fund is £100 per month, but this can accumulate to more than £35,000 in the next 18 years. Don´t overstretch yourself if considering a child trust fund or you could end up in debt yourself, but start by paying a modest amount in each month.

7. Pension fund investment to avoid debt

Invest in a pension fund if you have any spare cash, and you will reap the rewards in later life. There are plenty of pension options available to you so take your time to find the right one for you. Beware of investments that carry a lot of risk, or you could find yourself experiencing debt problems and seeking debt advice or even arranging a debt management plan.

8. Consider a health cash plan

Health cash plans can reduce the amount you pay for health treatments. Similar to health insurance policies, health cash plans are less expensive and can be used against medical fees and expenses for opticians, dentists and doctors. With a cash plan scheme, you pay the initial expense of treatment and then claim it back from your cash plan provider.

9. Private school fees

If you are planning to send your children to private school, you can start to save the money early in a tax-free insurance policy until your children reach school age. You may also be able to pay fees early at the current rate which will assure your child´s place at private school in a few years time. Millions of people in the UK are suffering debt problems and seek free debt advice and help every year from free debt solutions companies who can arrange debt management plans, independent voluntary arrangements and even bankruptcy.

10. Shop sensibly to avoid further debt

The Government is hoping, by cutting interest rates that the general population will be out there shopping in the high street again, and spending the money they have saved on the mortgage. If you already have credit card debts or bank loan debts, give the plastic a break and spend some available cash instead on the basics. Alternatively, use the extra money to pay off some of your credit card debts to make life easier.

Debts.org offers people with debt problems a way out. Offering free advice and guidance about debt management plans, Individual Voluntary Arrangements, bankruptcy, reclaiming unfair bank charges, reclaiming mis-sold payment protection scheme cash or simply offering a shoulder to cry on, debts.org helps people in debt in every major town and city in the UK, including Liverpool, London, Leeds, Swindon, Poole, Blackpool, Burnley, Liverpool, Ipswich, Telford, York, West Bromwich, Peterborough, Stockport, Stoke, Brighton, Gloucester, Watford, Rotherham, Sheffield, Cambridge, York, Nottingham, Leicester, Manchester, Bristol and Birmingham. Call us free for free advice on 0844 277 7999 or fill in the online form.

Labels: Blackpool, Burnley, Ipswich, Leeds, Liverpool, London, Poole, Swindon, Telford

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Monday, 3 August 2009

Top ten list for first time home buyers

posted by debts.org at 23:44

If you are a first time home buyer, make sure you get the right advice and help with your mortgage arrangements. There are so many mortgage deals available nowadays, that you need to shop around and make sure the mortgage you choose is the right one for you. Thousands of people get into debt and seek debt advice every year when they fall behind with their mortgages and some even face home repossession. Make sure you get the mortgage to suit you and don´t be palmed off with the first one that is discussed. This is your house, your future and your mortgage, and by taking your time to find the right mortgage you can avoid debt problems in the future.

1. Help and advice to avoid debt

Seek the help and advice of a good mortgage broker who will explain Zero mortgage deposits, capped rate mortgages, fixed rate mortgages and flexible mortgages. Don´t be afraid to ask questions. Buying a house is probably the biggest purchase you will ever make in your life so take your time. Choosing the wrong mortgage could mean you end up with serious debt problems later on. This is one of the biggest decisions you will ever have to make in your life, so make it carefully.

2. Arrange a mortgage before you start searching for a house

One of the biggest mistakes first time home buyers make is to find their ´perfect´ property before they know how much they can borrow. The risk then is that they over-borrow and find themselves in debt and seeking debt advice or help a couple of years or months down the line. Firstly, find out if you can get a mortgage and how much for. You can then apply for an agreement in principle. This will cost you nothing and will not tie you to any one lender, but will give you a good idea of how much money you can borrow. Take your time to get the right mortgage deal for you and you can avoid debt problems further down the line.

3. Understand your finances to avoid serious debt problems

Go through your finances with a fine toothcomb to make sure you can afford the repayments of any mortgage you take on. Serious debt problems can arise if you borrow too much money and then have problems paying it back. If you choose the wrong mortgage terms and conditions you could end up facing house repossession and seeking debt advice and help. Contact Experian or Equifax for a copy of your personal credit history and if your credit rating is low, take steps to improve it.

4. Bad debt and poor credit rating

Often, only after first time buyers have submitted a mortgage application do they find out about their poor credit rating. This can create problems with borrowing money, and it is a good idea to check your credit rating before applying for a mortgage. Save time by checking your credit rating early on, and avoid debt problems later. If your credit rating is low, you may not even get a mortgage, or if you do, you could end up getting less than you bargained for.

5. Budget for the extras to avoid debt

Bear in mind that your new home, even if it has been recently built, will need furniture, and an older property may need extensive renovation. Consider all the extras before making an offer, and make sure you can afford it. Stretching yourself to afford an expensive house may seem like a good idea at the outset, but can cause serious debt problems and even house repossession later on. In your list of expenses, also include stamp duty, duty land tax, surveying and conveyancing. Look out for hidden extras which can trip you up if you don´t consider them at the time of taking a mortgage.

6. Monthly household bills

When you buy a house, you need to consider all of the ongoing expenses that come with it. In addition to monthly mortgage repayments, you will be liable to pay council tax, service charges, household repairs and utility bills such as gas and electricity. Work out how much the monthly bills are likely to be before applying for a mortgage. You can look on several utility comparison sites on the internet to give you an idea of how much you are likely to be paying in your area each month for gas and electricity.

7. Information to avoid council tax debt

If you are viewing the property with an estate agent, ask them which council tax band the property is in, to avoid debt problems later on, and how the local authority levies the charges. Council tax is a contentious issue, and you don´t want any nasty surprises with high charges after you have bought the property. Check the local rates bills before committing yourself to buying a property, and make sure everything is clear in your mind before going ahead.

8. Research the area to avoid debt when you want to re-sell

We have all heard the horror stories about house prices plummeting after new roads are built close to properties, or groups of travellers come to reside on your doorstep, but you can help avoid debt problems in the future by researching the area where you want to buy. Look at what is selling and for how much. All sorts of factors can add value to your property. Is it close to a bus route for example, close to shops and amenities, and close to schools? All of these things will add value to your property, meaning you will avoid negative equity in the future.

9. Local transport to work

When viewing properties, ask about local transport links and work out how much time you will add or lose by moving to the area. If you are moving to the suburbs of a city because property is cheaper, don´t lose out by having to pay sky-high transport prices to commute. Buyers can often be swept away by the feel-good factor when viewing their ´dream home´ only to realise a few months down the line that it is in the wrong area or that local amenities are not up to scratch.

10. Clear your debts and feel at home

If you have any outstanding debts, or debt problems, seek debt advice in the UK before applying for a mortgage. You may be instructed to clear these debts before you are offered a mortgage, to ensure you don´t suffer more debt problems in the future. Have a good walk around the area to make sure it is the right place for you to buy a house. Are there shops, pubs, leisure facilities close by? Would you feel safe walking home at night? Don´t make any split-second decisions just because you like the property. There are a lot more things to consider.Debts.org is a specialist debts advice company who can help you get out of debt, offer you a debt management plan, an Independent Voluntary Arrangement, reclaim unfair bank charges or mis-sold payment protection insurance in Liverpool, Leeds, London, Preston, Stockport, Middlesbrough, Oxford, Poole, Telford, West Bromwich, York, Slough, Gloucester, Cambridge, Exeter, Rotherham, Reading, Nottingham, Burnley, Bradford, Leicester, Bristol, Hull or any other UK city.

Labels: Cambridge, Exeter, Gloucester, Leeds, Liverpool, London, Middlesbrough, Oxford, Poole, Preston, Rotherham, Slough, Stockport, Telford, West Bromwich, York

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Thursday, 30 July 2009

Top ten debt management tips

posted by debts.org at 04:15

Debt management, debt relief, debt solutions and financial planning to help you through the credit crunch are all available in cities throughout the UK, including London, Birmingham, Manchester, Liverpool, Leeds, Sheffield, Nottingham, Reading, Derby Northampton, Plymouth, Southampton and Burnley.

Before contacting a debt management company, to discuss unfair bank charges, setting up a debt management plan, claiming back mis-sold payment protection insurance or mortgage exit fees, look through the following information to help solve your debt problems:

1. It is easy to ignore mounting debt problems and credit card debts by either not opening your mail or throwing your statements in a drawer somewhere and forgetting about them. Take the bull by the horns and work out a proper monthly budget. Deduct all your outgoings and debts from your monthly income. If there is any money to spare increase debt payments on the debts with highest interest or secured loans such as mortgage. Identify the areas where you can cut back to reduce further debt.

2. Even if you debt problems at this stage are minor, cut back now on non-essentials to avoid serious debt problems in the future. Small changes which you may not have considered previously can have a major long-term impact on your finances. If you normally eat out during your lunch break at work for example, take a packed lunch instead. This could save you over £120.00 per month. And if you like a tipple after work with your colleagues, reduce the number of times per month you go out. And leave the credit cards at home.

3. Arrange internet banking so you can review your statements regularly and check what is coming in and what is going out. Check all of your direct debits and standing orders are correct and still need to be paid. If you are still paying out for gym membership you no longer use, and mobile phone contracts no longer valid, then contact the bank immediately to cancel payments.

4. Check your credit rating at least every 6 months to make sure there are no errors on your credit report. This can seriously affect your application for more credit in the future.

5. If you are looking for debt advice for credit card debts in London, Birmingham, Leeds, Newcastle, Sunderland, Nottingham, Reading, Leicester, Coventry, Hull, Wolverhampton, Preston, Peterborough, Stockport or any city in the UK, you can contact a specialist debt counselling company for help and guidance.

6. Always pay off more than the required minimum on your credit card debt. Mounting interest will make it virtually impossible to pay off in a reasonable amount of time otherwise. And cut up the card to make sure you are not tempted to spend more.

7. You can save hundreds of pounds a year by switching mobile phone companies, utility suppliers, banks, landline, broadband and by getting a water meter installed. If you are looking to reorganise your finances or you want debt help or debt advice from a specialist debt help company, contact debts.org for free guidance and help.

8. Once your finances are back in order, possibly with the help of a debt management plan which you can arrange in London, Leeds, Wolverhampton, Dudley, West Bromwich, Slough, Brighton, Gloucester, Exeter, Nottingham, Liverpool, Bolton or any town in the UK, you can start to look forward to a debt-free future.

9. Before cashing in any insurance policies you may have, check if there is a way to reduce your monthly repayments, as you may lose out if you have been paying in to any scheme for a long period of time. Debt management, credit card debts, debt relief and advice about mis-sold payment protection insurance, unfair bank charges and early payment mortgage fees can all be claimed back. Speak to a specialist debt help company who will give you free advice and help.

10. Save as much money as you can afford after you review your budget and clear your debts. If you are experiencing debt problems, credit card debts or if you face repossession or want to claim back unfair bank charges, payment protection insurance which was mis-sold or would like more advice about a debt management plan, in London, Leeds, Liverpool, Manchester, Birmingham, Burnley, Leicester, Hull or any other part of the UK, contact debts.org for free advice on: 0800 320 0923 or fill in the online form.

Labels: Brighton, Dudley, Exeter, Gloucester, Liverpool, Nottingham, Slough, West Bromwich, Wolverhampton

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How debt problems can improve your love life

posted by debts.org at 04:04

We have all heard the old adage, “when poverty comes in the door, love flies out of the window”. But how true is that? Shared financial struggles can actually improve your love life, as couples bond more closely in their shared struggle against the universe.

1. Debt problems make you more romantic

If you are suffering debt problems including credit card debts, you may not be able to dine at the finest restaurants with your lover (or your partner come to that), or jet off on exotic holidays, but concentrate on what you CAN do. Enjoy a walk in the park or take a trip to the river and have a picnic. Without all the background noise, you might even be able to hear what your partner has to say, and guess what, you might even like it.

2. Debt problems and nights in

If you can´t afford to go out, and you are arranging a debt management plan or suffering with credit card debts, plan quality time at home. Hire out some funny DVDs, light the candles and have a good laugh (preferably before he takes his trousers off). Laughter is a great therapy and reduces stress levels.

3. Necessity is the mother of all creativity

If you are good with your hands, invent or create some entertaining activities which cost nothing. Alternatively, if a discussion about debt-relief is not the answer, play board games, cook some romantic meals together (fish fingers and chips does not count) or even get down and dirty with some DIY which will bond you closer together (especially if you overdo the superglue).

4. Work out a budget to solve debt problems

Working out your finances may not be the biggest turn-on ever, but think of the satisfaction you will both feel when you can look forward to a debt-free future. Whether you are thinking of arranging a debt management plan in London, Leeds, Manchester, Birmingham, Stockport, Liverpool, Gloucester, Portsmouth, Northampton, Rotherham, Hull or any other UK city, or you simply want good, sound debt advice, look no further than debts.org. Take time to sit down, or stay in bed, and work out your income and outgoings per month before seeking debt advice or debt help.

5. No debt problem drama required

Try to stay calm with your partner even if your debt problems or credit card problems become serious. Stronger relationships can result from weathering the storm together, and coming out unscathed at the other end. If you start to annoy each other when discussing debt relief, debt help or debt advice, walk away and leave it till later. If he continues to ignore you and sits on the sofa reading, set fire to his newspaper – that should get his attention (only joking – don´t try that one at home folks).

6. Calm down and chill out

Once calm has been restored to the home, take your time to relax and enjoy your surroundings without the help of copious amounts of alcohol. Fun as it may seem at the time, the only thing likely to rise after too much booze is your temper, and if you are already suffering debt problems, it won´t help your bank account. Keep calm, keep the conversation light-hearted and enjoy your surroundings.

7. Enjoy different hobbies

If you both find yourselves at home all day long you may get under each other´s feet. Take the time to enjoy a few hours with your friends or family without your partner, and encourage him to do the same. He may have different hobbies to you, so let him go off and play five-a-side while you enjoy a night in, or out if funds allow, with the girls. Not only will you be more pleased to see each other at the end of the day (assuming you are still in a fit enough state to get the key in the door) you will also have more to talk about, apart from debt management plans and debt advice.

8. Face the music and dance

The sooner that you and your partner face the music, and stop burying your heads in the sand, the sooner you will be debt-free. Communicate with one another in a calm way, and work out how you are going to address your debt problems, which company or debt management organisation you are going to contact and when you are going to make the first move. Once you have a plan of action, you will feel like a weight has been lifted from your shoulders, and you will see a light at the end of the tunnel. You can reduce your debts by up to 70% a month by arranging a Debt Management Plan,(DMP), an Independent Voluntary Arrangement (IVA).

9. Sweets for my sweet

Bolster your love life and make your partner feel special by reminding him of his special traits, and wonderful ways which first made you fall for him. If you can´t bring yourself to do this, or you don´t think he has any, just take him a cup of tea in bed every now and again to keep him sweet. Joking aside, a problem shared is a problem halved, and if you face your debt problems responsibly together, it can bring you even closer together as a couple.

10. Romance and credit card debts

Once you have made the solemn promise to each other not to increase the credit card debts or store card debts, stick to it. In other words, if there is something you desperately need such as a new dress, buy it. When his birthday comes around just get him a greetings card instead of a gift. That way you won´t be any worse off! But seriously folks, credit card debts and store card debts can be crippling. Once you have arranged a budget with your partner, you must discipline yourself to stick to it. When times are hard, imagine how much better off you will be, once you pay off your debts.


So if you are looking to improve your love life, or simply want some free advice about debt problems, debt management plans, or credit card debts in London, Nottingham, Manchester, Brighton, Leeds, Dudley, Northampton, Portsmouth, Stockport, Huddersfield, York, Sheffield, Bristol, Birmingham, Leicester, Hull, Southampton, Plymouth, Coventry, Luton, Telford, Bolton, Liverpool, Middlesbrough or any other city in the UK contact debts.org or fill in the online form.

Labels: Birmingham, Bolton, Bristol, Coventry, Huddersfield, Hull, Leicester, Liverpool, Luton, Middlesbrough, Plymouth, Portsmouth, Sheffield, Southampton, Stockport, Telford, York

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