Monday, 3 August 2009

Top ten house repossession tips

posted by debts.org at 23:56

House repossessions hit a 12-year high in 2008, with over 200,000 home owners more than three months in arrears with their mortgages. If you want to avoid mortgage debt or house repossession, consider the following ten tips:

1. Flexible mortgage terms

Make sure you understand your mortgage terms to avoid debt problems later on. Most mortgages have some flexibility built in, so if you pay any extra in advance, you should be able to pay a reduced mortgage when things are difficult financially, or you may even be able to take a payment break.

2. Check the benefits you can claim

If you are unemployed and suffering debt problems or seeking debt advice in the UK, you should make sure you are getting the benefits you are entitled to. Also check if you have been paying mortgage payment protection insurance which could cover your mortgage payments for up to a year. If you have been mis-sold payment protection insurance you can reclaim the money paid with the help of a debt advice company. Also check with your benefits office to see if you are entitled to any help from the government with your mortgage repayments.

3. Check your budget before contacting your lender

Draw up a budget and note all of your outgoings and income before you contact your mortgage lender. Use an online mortgage calculator or online budget calculator to help you. If you are in need of free debt advice or information about debt management plans or individual voluntary arrangements, you should contact a regulated debt solutions company.

4. Face up to your mortgage debts

Keep in touch with your mortgage lender, and never ignore letters or phone calls. There are several options available to you if you are having problems paying your mortgage, or if you are suffering serious debt problems. The longer you leave it, the less sympathetic your lender will be, so act quickly when your debt problems start or you miss the first mortgage payment.

5. Consider your mortgage options to stay out of debt

Your mortgage lender may be able to offer you low cost alternatives to your current mortgage, such as reduced monthly payments for a set period of time or extending the term of your loan. You may even be able to take a mortgage payment holiday if your lender agrees to it. Address your debt problems as quickly as you can, or serious debt problems could follow. Debt advice is free in the UK with regulated debt help companies.

6. Mortgage arrears fears

If you fall into mortgage arrears, contact your lender immediately. If you have missed a couple of payments and you receive a letter from your lender, respond to it as quickly as possible. By failing to reply, you will be more likely to suffer house repossession. Always try to negotiate with your lender before they start legal action. You have nothing to lose by speaking directly to your lender.

7. House repossession and keys

Don´t hand the keys back to the lender and walk away. You will still not be free of debt. Seek independent advice first from a regulated debt company. Your debt problems could get worse and your name will appear on the mortgage repossessions register if your house is repossessed, which could affect any mortgage application in the future. If you can sell the house, then do so. Remember that if the house is repossessed and sold at auction, if there is any shortfall before the price it reaches and the money you owe, you will still be liable to pay that sum back. The lenders legally have 12 years to get the money back from you.

8. Mortgage court case

If the case against you goes to court and you don´t come to an agreement with the lender, make sure you turn up. The lender is likely to be at court to try and get an order of possession, but if you present an acceptable offer to repay your mortgage arrears, proceedings could be stopped by the judge. If you can´t afford to pay the full amount back, then make a reasonable offer to clear your mortgage arrears, and you may be in luck.

9. Your rights and the bailiffs

Bailiffs have to give you seven days to vacate your premises and can use reasonable force to enter the premises. Remember that the lender may have the legal right to repossess the house, but not the contents, so an agreement must be reached with them as to when you can collect your goods.

10. Beware sell to let schemes

Schemes which offer to buy your house and rent it back to you can leave you with serious debt problems. Always read the small print and make sure you can afford the rent. You could end up being evicted if you default on the rent payments. Smelling desperation, sell to let companies will also be offer you a price which is far less than your house is worth.

If you are falling behind with your mortgage payments or have mortgage arrears or serious debt problems, contact debts.org free on 0844 277 7999 or fill in the online claim form. If you want to reclaim bank charges, claim for mis sold payment protection insurance or PPI, or arrange a Debt Management Plan (DMP) or an Individual Voluntary Arrangement (IVA) in London, Liverpool, Burnley, Luton, Dudley, Derby, Reading, Plymouth, Southampton, Preston, Milton Keynes, Sunderland, Bournemouth, Southend-on-Sea, Newcastle, Middlesbrough, Oxford, Poole, Blackpool, York, West Bromwich, Peterborough, Stockport, Brighton, Slough, Gloucester, Watford, Rotherham, Cambridge, Exeter, Sheffield, Bristol, Hull, Bradford, Wolverhampton, Coventry, Stoke, Leicester or any other town or city in the UK.

Labels: Blackpool, Bradford, Brighton, Bristol, Cambridge, Exeter, Gloucester, Hull, Peterborough, Rotherham, Sheffield, Slough, Stockport, Watford, West Bromwich, Wolverhampton, York

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Thursday, 30 July 2009

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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