Tuesday, 4 August 2009

Top 10 hints for house buyers

posted by debts.org at 23:48

1. Shop around to avoid future

Take your time to look around before arranging a mortgage, and don´t feel as though you are wasting anyone´s time. There are still around 10 potential buyers for every new property on the market and it pays to be cautious and avoid any debt problems later on, when you realise you are paying far too much for your mortgage.

2. The low cost of borrowing

The low cost of borrowing and the devaluation of the pound has been one factor behind the recent improvement in the property market. This has resulted in a lot more foreign investment. Don´t over borrow, even if you think you can afford it at the moment. Buyers can suffer a lot of unnecessary debt problems by biting off more than they can chew so be cautious, however the market is performing.

3. Improvement but not recovery

The housing market may be showing signs of recovery, but complete recovery is some way off. Be cautious when investing in property and always take professional, legal advice before signing on the dotted line. You may suffer debt problems or even need to arrange a debt management plan if you credit card debts or store card debts, so think carefully about your whole financial situation before borrowing more cash.

4. Low sales figures and falling prices

The optimistic viewpoint shared among most estate agents, which is obviously the one they want you to hear, is not shared by everyone. Some consultancies state that low sales figures and falling prices in certain areas of the country paints a more accurate picture of what is happening outside London, so don´t be tempted to borrow more money than you can afford, only to find yourself saddled with debt a few years down the line.

5. Bargains for buyers

Buyers can undoubtedly pick up bargains if they shop around, but getting a mortgage is another matter altogether. Find the best mortgage deal for you before choosing the house you want, avoiding disappointment later. If you are suffering debt problems or would like information about a debt management plan, or have mortgage arrears, you can contact a free debt advisory company in the UK.

6. Can I get a mortgage?

Getting a mortgage is harder now than ever, and you can virtually forget it unless you have between 15 and 20% deposit to put down and a top notch credit rating. If you can find between 20 and 40% deposit, you are in a great position to bag a bargain. Even if you do have a sizeable deposit, don´t overspend, as you will still have to make the repayments and could end up seeking debt advice rather than mortgage advice.

7. Property auctions and house repossessions

If you have some spare cash or perhaps have inherited a sum of money, visit a property auction. Prices at auction for houses is normally about 30% lower than at the estate agents and properties sold at auction are often repossessed houses. Prices are so much lower because banks want a quick sale which could benefit you. But be careful. Don´t snap up what appears to be a bargain but may need thousands spending on it that you don´t have. Irresponsible buying at auction can result in debt, house repossession and even bankruptcy.

8. Economic crisis and property

The economic crisis has hit the property market hard, and new builds have been very badly affected. Investors were the hardest hit who hoped to realise a quick profit on their properties but instead saw a quick loss. Don´t buy off-plan unless you are 100% certain of a quick turn around and a quick profit. Off plan investors have lost millions in the past two years, and are now suffering major debt problems and house repossessions.

9. New homes discount

If you are considering buying a new property, you can get some bargains which have been taken back from investors who could not keep up their mortgage payments. You may be able to find a new build for up to 15% less than the original asking price but, again, don´t be tempted if it is out of your budget. Thousands of debt management plans every year are arranged for people who borrow more than they can afford and end up with credit card debts and store card debts on the top of mortgage debts

10.Shared ownership

Shared ownership schemes are now available from housing associations, which have bought properties from developers, and are offering them to first time buyers. Take your time to look into the terms and conditions of shared ownership before committing yourself, but it might be the perfect way to get your foot on the property ladder.If you are suffering debt problems during the credit crunch, debts.org can help you arrange a debt management plan, an individual voluntary arrangement, bankruptcy or we can help you reclaim unfair bank charges or early mortgage completion fees or mis-sold payment protection insurance in any city in the UK, including Liverpool, Leeds, London, Sheffield, Bristol, Bradford, Hull, Nottingham, Wolverhampton, Sunderland, Eastbourne, St Helens, Crawley, Oldham, Blackburn, Sutton Coldfield, Eastbourne, Northampton, Mansfield, Portsmouth, Reading, Luton, Preston, Milton Keynes, Sunderland, Norwich, Walsall, Swindon, Huddersfield or Stoke on Trent. Call us free on 0844 277 7999 or fill in the online claim form.

Labels: Blackburn, Crawley, Eastbourne, Luton, Mansfield, Northampton, Oldham, Portsmouth, Preston, Reading, St Helens, Sunderland, Sutton Coldfield, Wolverhampton

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Monday, 3 August 2009

Seven ways to deal with mortgage arrears debt

posted by debts.org at 23:59

Debt problems can become serious debt problems within just a few months if you are in arrears with your mortgage. Here are seven ways to reduce the risk of home repossession and give you a debt free future:

1. Pay off arrears quickly

Start to repay your mortgage arrears as quickly as possible as arrears can lead to extra charges, which will increase the amount you owe. If you arrange to pay off mortgage arrears quickly, you will have more money in the long run and you can avoid serious debt problems.

2. Extra mortgage payments to avoid debt problems

If you can make extra mortgage payments, then do so. You can avoid serious debt and serious mortgage debt by paying a bit extra each month to pay off your arrears. Your mortgage lender will probably be in agreement with this, as long as you are making an effort to clear your debts.

3. Include the arrears in the mortgage

You may already have a debt management plan arranged, and you may be facing up to more debt with mortgage arrears. Ask your lender if he can add your mortgage arrears to your total mortgage balance, which will spread the arrears over the period left on your mortgage. This will mean that your monthly payments will increase, but will give you some breathing space. You can get free advice from debt management companies about re-mortgaging, bankruptcy, debt management plans and individual voluntary arrangements.

4. Extend the mortgage to solve debt problems

If you have a repayment mortgage which you have been paying back for a long time, you could ask your lender to extend the term to 25 years again for the remaining amount. This means your monthly payments will reduce but you will be making them for longer, possibly into retirement. Make sure you understand the implications of extending the time of your mortgage before signing anything. This is not an easy way out as the money will still have to be paid back at some stage.

5. Delay mortgage arrears to help solve immediate debt

If you are suffering debt problems, and struggling to pay your mortgage arrears, ask your mortgage lender if you can delay paying arrears for a certain amount of time. Debt problems in the UK are increasing and you should talk to an independent debt advice company if you are struggling to make ends meet.

6. Payment holiday for mortgage debt

If you have an interest only mortgage, you may consider taking a payment holiday if your lender will allow it. This means that if you have an endowment policy which is linked to your mortgage, ask the endowment company if you can stop paying in for a limited period of time.

7. Selling your endowment policy

If your endowment policy has been running for several years, you could use the amount in the policy to pay off your mortgage arrears. You can cash in or sell the policy after taking advice from the mortgage lender and the endowment policy company. Make sure it is worth your while, as, if you cash in your endowment policy early, you could be losing out on a much bigger cash sum when it matures. Thousands of people get into serious debt every year in the UK by cashing in endowment policies early, only to find there are other ways to solve their debt problems.

If you are suffering debt problems and feel there is nowhere to turn, or you want some friendly and professional advice about debt management plans, individual voluntary arrangements or bankruptcy, or if you want to reclaim unfair bank charges in Liverpool, Leeds, Peterborough, Middlesbrough, Lincoln, Grantham, Burnley, Manchester, Poole, Sunderland, Huddersfield, Mansfield, Nottingham, Ipswich, Telford, Milton Keynes, Derby, Northampton, Portsmouth, Luton, Preston, Telford, York, Stockport, Brighton, Hull, Bradford, Wolverhampton, Scunthorpe, Carlisle, Swindon, Stoke or any town or city in the UK,contact debts.org free on 0844 277 7999 or fill in the online claim form.

Labels: Bradford, Brighton, Derby, Hull, Ipswich, Luton, Mansfield, Milton Keynes, Northampton, Nottingham, Portsmouth, Preston, Scunthorpe, Stockport, Telford, Wolverhampton, York

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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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5 ways to avoid house repossession in a recession

posted by debts.org at 23:30

With the credit crunch snapping at everyone´s ankles, and talk of the recession continuing well into 2010, it is little wonder so many people in the UK are suffering debt problems and seeking debt advice. If you are trying to sell your house to avoid home repossession, you need to make your house as attractive as possible to increase the chances of a quick sale. You may have heard the stories about the smell of fresh coffee brewing or the aroma of bread being baked, helping to create an atmosphere most home buyers are tempted by. Here are five tips to consider when putting your house on the market:

1. Stay neutral to sell quickly

Stick with neutral colours. You may have blood red walls, lime green carpets and swan murals painted on the ceiling, but the best way to present your house is to give it a lick of neutral paint, which will make it look clean and fresh. Good colours to paint the walls include: cream, white with a hint of pink or stone. A straightforward paint job won´t cost you much money, and could make all the difference. Serious debt problems can be avoided if you manage to sell your house quickly.

2. Stay clean to avoid debt problems

You may need to sell your house quickly because of mounting debt problems, bankruptcy or the threat of house repossession. You may have massive credit card debts or serious store card debts and need to release some money. Remember that a clean home is an inviting home, so when you are expecting prospective buyers, keep the house spotless. Put all clutter out of the way and make sure the house is aired and smells fresh.

3. Stay light and bright and avoid house repossession

A bright and light house will feel and look bigger, and impress any potential buyer. Where possible, arrange viewings when the sun is shining through the windows of main rooms such as the lounge. Open all curtains and blinds to allow the light in. Simple measures like this can boost the chances of a quick sale, and can help you to solve your debt problems without seeking specialist advice or arranging a debt management plan.

4. Staying alive to sell your house quickly

Keep plants and flowers looking fresh, alive and healthy before prospective buyers arrive at your house. Cut-flowers will make the house look colourful, bright and fresh. By not presenting your home well, you could end up with the house being repossessed, or minor debt problems could become serious debt problems if you fail to sell your house quickly.

5. Modern and Contemporary

You don´t need to spend a lot of money to make your house look more modern and contemporary. Chic-looking houses sell quicker. Young buyers will be impressed with well-placed finishing touches such as rugs and blinds, which can improve the look of your house. You will be amazed how cheaply you can make massive improvements to the look of your home. If you are suffering debt problems or you are looking or debt advice in London, Manchester, Luton, Portsmouth, Northampton, Preston, Milton Keynes, Newcastle, Sunderland, Swindon, Ipswich, Telford, Bolton, Stockport, Watford, Rotherham, Cambridge, Exeter, York, Derby, Preston, Burnley, Bournemouth, Brighton, Liverpool or anywhere in the UK, and you don´t know which way to turn, debts.org can help you. For free, confidential advice about how you can get out of debt call or free advice line on 0844 277 7999 or fill in the online form.

Labels: Bolton, Cambridge, Derby, Exeter, Ipswich, Milton Keynes, Newcastle, Northampton, Portsmouth, Preston, Rotherham, Stockport, Sunderland, Swindon, Telford, Watford, York

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10 ways to bridge the pension gap

posted by debts.org at 23:26

New personal accounts regulations will come into force in 2012, but what can you do to make the most of your money between now and then? If, like many people in the UK, you are suffering debt problems, you may want to save money where possible for your retirement. Consider the following ten tips.

1. Employer´s pension scheme

Staying with your employer´s pension scheme until 2012 is probably the best option. If the employer´s scheme is better for you than the personal accounts scheme, they won´t have to offer the latter. If you are seeking debt advice or suffering debt problems, or even considering a debt management plan, make sure you fully understand any pension scheme you are paying in to.

2. Employer contributions scheme

If you are just being offered the chance to join an employer-backed scheme, do so, and you will get the advantage of employer contribution or the next 3 years.


3. Start saving now to avoid debt in later lifeOne major cause of debt problems later in life, is that people don´t start to save early enough to enjoy their retirement. Start saving as soon as you can to avoid debt management plans, IVAs or even bankruptcy in later life. What you manage to save between now and 2012 can be put into your personal account in the first year it opens.

4. Don´t delay with saving for retirement You may have other financial commitments right now, such as saving for a house deposit or buying a car, but start saving as soon as you can towards retirement – it comes round a lot quicker than you expect. The last thing you want at retirement age is to worry about debt or to have to seek debt advice in the UK.

5. Consider ISA allowances

One of the best tax-free ways to save for retirement between now and 2012 is to put money into a cash ISA. You can pay up to £3,000 per year into a cash ISA, and the amount you pay in can be used as a contribution into a personal account in 2012, if the total is less than £10,000.

6. A Stakeholder pension scheme to avoid debtYou can start to save in a stakeholder scheme even if there is no employer contribution, and you could begin building a retirement fund before 2012. Although a stakeholder scheme is a good way of saving, you can´t transfer these funds to a personal account in 2012.

7. Charges on savings can cause debt problemsPersonal accounts will offer a low-cost way of saving for your retirement, but excessive charges on accounts can cause debt problems. If you are currently paying high bank charges, you should look at ways to reduce these charges before 2012. Limits apply on maximum charges for stakeholder pension schemes.

8. Personal accounts not for everyoneIf you are going to retire soon after 2012, and you have no other savings, it may be better for you not to contribute to personal accounts, as your savings will replace state benefits that you are eligible for.

9. Tax-free alternatives to avoid debt problems If you are close to retiring, you could put your savings into tax-free products to run alongside your personal account. Cash ISAs, Premium Bonds or Stocks and Shares ISAs could be a good option for you. It is more important than ever these days to start saving for your retirement as early as you can. Debt problems, debt management plans, (DMPs), Individual voluntary arrangements (IVAs) and other debt solutions are more difficult to pay off when you are older and you should aim to be debt-free as soon as possible.

10. Tax relief on pension contributionsRemember that pension contributions receive tax relief at the marginal rate. This means that if you are paying tax at a high rate now, but will be paying less in 2012, your pension contributions now will be more valuable than they will in 2012, as you will get 40% tax relief, which is an incentive to pay the contributions now.

If you are suffering debt problems or you need debt advice from a specialist, regulated debt solution company, and you live anywhere in the UK including London, Birmingham, Wolverhampton, Nottingham, Stoke-on-Trent, Bradford, Hull, Liverpool, Leeds, Manchester, Leicester, Coventry, Newcastle, Slough, Gloucester, Plymouth, Southampton, Derby, Northampton, Portsmouth, Luton, Preston, Sunderland, Norwich, Bournemouth, Southend, Swindon or Huddersfield, contact debts.org on 0844 277 7999 or fill in the online form.

Labels: Bournemouth, Coventry, Derby, Gloucester, Leicester, Luton, Newcastle, Northampton, Norwich, Plymouth, Portsmouth, Preston, Slough, Southampton, Southend, Sunderland

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Thursday, 30 July 2009

Ten ways to reduce debt forever

posted by debts.org at 04:00

The number of people now facing serious debt problems in the UK is frightening. Many of those people feel helpless and abandoned, but help is now available. Bankruptcy is by no means the only way out, and if you are suffering debt problems or credit card problems in London, Bristol, Leeds, Manchester, Birmingham, Walsall, Burnley, Nottingham, Leicester, Derby, Southampton, Brighton or any other UK city, you can get free help and advice. Firstly, remember the following:

1. Face up to your debts

You need to work out exactly how much you owe and who to. Check out the Consumer Credit Counselling Service website (www.cccs.co.uk) to help assess your debts. Credit card debts are crippling millions of people in the UK, and you need to prioritise your debts and pay off the ones with highest interest first.

2. Don´t be intimidated by debt collectors

If the debt collectors call you demanding payment, and you feel intimidated by them, contact the Office of Fair Trading who will give you free advice and guidance. You can also receive free advice from debts.org about debt management plans, debt relief, consolidation loans, claiming for payment protection insurance that has been mis-sold, and claiming for unfair bank charges and advice about IVAs.

3. Prioritise your debts to avoid serious debt problems

Make your mortgage and debts secured on your property a priority. If you fail to make these repayments it could end up in court action and/or your house being repossessed. Before you get to this stage, it may be worth speaking to a specialist debt advisory company who can explain how a debt management plan works. A debt management plan could relieve your debt problems by arranging for you to make a lower monthly payment for credit card debts and other unsecured loans.

4. Contact the right people for debt advice

If you are looking for free, confidential debt help and advice, contact The Citizen´s Advice Bureau or the National Debtline who will talk to you about your debt problems and help point you in the right direction. Debt help and debt advice is available free in Nottingham, Leeds, Bradford, Stoke, Wolverhampton, Birmingham, Leeds, Sheffield, Bristol, Bolton, Ipswich, West Bromwich, York, Oxford, Poole, Gloucester, Watford and every other UK town and city.

5. Contact a regulated debt company

If you are looking for free and confidential debt advice or debt help, contact a regulated company who specialises in debt management. Don´t allow yourself to be pressured into taking out a debt management plan, an IVA or a bankruptcy agreement that does not suit your needs and requirements. Debt is a personal problem, and every case is different and should be treated as such.

6. Bankruptcy should not be ruled out

Bankruptcy may be an option for you and there is no longer any stigma attached to it. A bankrupt can discharge debts in one year, but it is not necessarily an easy option. You could lose your home and car if you declare bankruptcy, and it could affect your chances of employment in the future.

7. IVAs and debt management plans

You may be advised to sign up for an individual voluntary arrangement (IVA) or a debt management plan (DMP) which has far less serious consequences than bankruptcy. An IVA is a legally binding agreement in which an insolvency practitioner arranges a five-year repayment plan with creditors. If that does not suit you, a DMP is less formal agreement between yourselves and your creditors which is much more flexible.

8. Consolidation with caution

It is tempting to enter into agreements to consolidate all your loans into one, and just pay a single amount back each month. This could be the perfect solution for you, but only if you stop spending and adding to your credit card debts in the meantime.

9. Look forward to a debt-free future

Look to set up a debt management plan by contacting the Consumer Credit Counselling Service or debts.org, who can organise reduced monthly payments on your behalf to your creditors.

10. Seek debt help and advice not retail therapyDon´t look at shopping as being retail therapy, as your credit card debts and store card debts will spiral out of control.

Credit card debts, house repossessions, store card debts, unfair bank charges and rent arrears are common in every town and city in the UK, including Manchester, Birmingham, Mansfield, Watford, St.Helen´s, Oldham, Derby, Dudley, Southampton, Gloucester, Liverpool, Luton, Swindon, Huddersfield, Bradford, Hull, Peterborough and Cambridge, but debt help and debt advice is now available from debts.org. Call us for free help and advice on 0800 320 0923 or fill in the online form.

Labels: Birmingham, Coventry, Hull, Leeds, Leicester, Newcastle, Nottingham, Peterborough, Preston, Reading, Stockport, Sunderland, Wolverhampton

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Ten ways to get out of debt

posted by debts.org at 03:16

If you ignore debt problems, and fail to seek debt advice or arrange a debt management plan, your finances can spiral out of control. You could be seeking debt advice in London, Birmingham, Liverpool, Leeds, Sheffield, Bristol, Manchester, Leicester, Coventry, Hull, Bradford, Stoke, Wolverhampton or Nottingham and not know where to turn. Before you seek the help of debts.org, try to face up to your debt problems, and consider the following:

1. If you owe money to more than one creditor, put your debts in order of priority. Any debts that could result in you losing your home, or being cut off by the electricity or gas board, should be addressed first. If your debts only consist of credit card debts, or store cards, try and pay off the one with the highest interest rate first.

2. Draw up a monthly budget, which will give you a clear picture of how much you have left each month to spend on debt repayment. Write down details of everything you spend in a month and see where you can cut back to free up some more money to pay your debts. You may be able to take advantage of a debt management plan, which a specialist debt solution company could arrange for you with your creditors.

3. Consider switching to a cheaper credit card, preferably one that is offering 0% balance transfer for a limited amount of time. If you do this, destroy your old card which will still prove a temptation to you once it is balance free. Credit card debt is one of the most common forms of debt problems in the UK.

4. Write or call the banks or credit card providers to cancel your account with them if you no longer wish to use your cards. Otherwise, when the date of the card expires they will send you another one regardless, tempting you to get into more credit card debt.

5. Always pay above the minimum required payment when possible. The more you pay, the less it will cost you in interest rates. Credit card debts in Plymouth, Southampton, Reading, London, Derby, Dudley, Newcastle, Northampton, Portsmouth, Luton, Preston, Milton Keynes, Sunderland and the rest of the UK are rising.

6. Move your mortgage if you can get a better deal elsewhere. Also look to switch your phone, gas or electric providers to free up more cash for immediate debts. Mobile phone providers are always offering cheaper deals than their counterparts, and as this is such a competitive business, it is worth shopping round for the best tariffs and deals. If you are looking for debt relief or debt solutions in the UK, or you simply want debt advice in Norwich, Walsall, Bournemouth, Southend, Swindon, Huddersfield, Poole, Oxford or any part of the UK, seek the help of a specialist debt management company.

7. If you are suffering debt problems and looking to increase your income, look for a part time job. You can also earn extra money by clearing out your house and selling unwanted goods in the local paper or at a car boot sale. Also look at buying and selling on e-bay. This is an online auction site which is accessed by millions of people.

8. Seek specialist advice about debt management plans, IVAs and even bankruptcy before setting the wheels in motion. Often, debt solution companies will contact your creditors on your behalf, and arrange for you to take out a debt management plan, meaning you will have manageable monthly payments and a debt-free future.

9. Always acknowledge your creditors and never ignore credit card bills and letters asking for money. If you bury your head in the sand, your debts will continue to grow, which could result in court action against you.

10. Seek advice from the National Debtline, the Consumer Credit Counselling Service or debts.org who can help you resolve your debt problems. If you are looking to arrange a debt management plan, an IVA or you would like free debt help and advice in Middlesbrough, Blackpool, Bolton, Ipswich, York, Peterborough, Stockport, Brighton, Rotherham, Cambridge, Blackburn, Colchester, Oldham, St. Helens or any other part of the UK, contact debts.org today on 0800 320 0923 or fill in the online form.

Labels: Birmingham, Coventry, Hull, Leeds, Leicester, London, national debt line, Newcastle, Nottingham, Preston, Reading, Sunderland, Wolverhampton

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