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

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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