Today’s difficult economic climate means that now more than ever, homeowners are constantly on the lookout for ways to save money and avoid debt. Everyday things like household bills can really eat into your bank balance, pushing you closer to debt and bad credit, but there are ways you can make a few savings.
Tips and [...]
-
DEMSA/OFT Approval
We are a member of DEMSA and subscribe to the DEMSA Code of Conduct.
DEMSA is an organisation founded to monitor and maintain high standards in the Debt Management industry. All members of DEMSA are bound by the terms of the Code of Conduct established by DEMSA. Read more...
Category Archives: Debt Management News
How to save money on household bills
High Street banks need to make major customer service improvements
The Financial Services Authority (FSA) has criticised a number of High Street Banks for the quality of their customer service. After examining the way 600 different complaints were handled, the FSA says that situations are dealt with poorly.
Five unnamed banks were considered to be major offenders by the FSA. Two of the five are now [...]
IVA numbers rise as personal insolvencies hit record levels
IVA’s accounted for a large proportion of the 132,142 people who were declared insolvent this year according to figures released today by The Insolvency Service.
50% of this figure declared bankrupt, however, 50% managed to to avoid this by signing onto an Individual Voluntary Arrangement (IVA) or a Debt Relief Order. The overall amount increased by [...]
British Gas price cut could help ease IVA and Debt Management worries
News that British Gas is to cut its prices could help ease the pressure on financially strapped consumers that are relying on IVA help or a Debt Management Plan as a way to get out of debt. The recession has taken its toll financially, and the bitter winter has left many people struggling to [...]
IVA and Debt Management worries as borrowing on the increase
Debt Management and IVA help providers are concerned at reports that UK consumers are retuning to their old ways when it comes to spending money on plastic. New UK borrowing on personal loans, overdrafts and credit cards has overtaken the amount being paid off by consumers for the first time in six months, sparking [...]
IVA and Debt Management firms concern over energy bills
Concern has been raised by IVA and debt management companies as news emerged that homeowners face record heating bills. Figures have shown that energy firms are profiting from the coldest winter for 30 years. IVA advice specialists are worried that the spiraling costs of gas and electricity could force more consumers into financial [...]
Brits may need IVA help after failing to put savings aside
More and more British people may need to consider an IVA or Debt Management Plan as Research has revealed that the average person only has about £2,000 saved up.
Reports from ING have claimed that as little as £40 has been put away during 2009 and that the average saving is £2,000.
This is just over [...]
Three in four parents risk developing debt problems this Christmas
Three quarters of families are at risk of developing debt management problems as research shows they are set to spend more money than they can afford on keeping children entertained over Christmas.
The additional cost of keeping children entertained over the festive season means that more than three in four parents (77 per cent) admit that [...]
Consumers continue to ease debt management problems
Consumers have continued to repay their debts at a record level throughout October, as they continued to focus on paying down existing debts rather than taking out additional loans.
During October, people managed to repay their unsecured balances – such as overdrafts, personal loans and credit card debts – by £579m, the largest contraction since 1993 [...]
Debt Management worries ease as consumer borrowing falls
Debt Management providers have welcomed the news that consumer borrowing has recorded its biggest fall since Bank of England records began some 16 years ago. There has been a large increase in the number of people struggling with debt problems, and having to seek financial advice to improve their situation.
Consumers have been turning to [...]
Debt management and IVA providers worry as jobless on increase
Unemployment in the UK will continue to rise, Alistair Darling warned yesterday. In a break from normal procedures, where chancellors resist the temptation to predict future jobless figures, the Mr Darling told MPs that “unfortunately it will continue to rise for a while“. The announcement has caused concern amongst IVA and Debt Management [...]
Share prices fall due to Dubai debt problems
Debt problems are nothing new to us in these times, however, there are new concerns in the stock markets across Europe courtesy of Dubai.
Dubai is a country associated with extreme wealth due to oil and hyper-tourism, but in recent times, many of the luxurious properties built by state-owned companies such as Dubai World have struggled [...]
Debt management misery as banks win at Supreme Court
The ongoing saga of reclaiming bank charges, levied on unauthorised overdrafts for poor debt management, has been dealt a cruel blow today in the Supreme Court.
Earlier rulings in favour of the Office of Fair Trading’s investigation into the unfairness of unauthorised overdraft fees, have been overturned by a Supreme Court judgement.
The case at stake, which [...]
Debt advice needed for lower earners
The government should provide more debt advice for lower earners according to a report from a leading charity.
The study, by the Institute of Employment Rights (IER), suggests that people on low wages are currently suffering financially because of the way the complex tax system operates and that they are also suffering most from the economic [...]
2,000 More Jobs to go at Threshers
381 local off-licences operated by Threshers Group will be closed it has been announced. Threshers is owned by First Quench which went into administration on the 29th October this year because of the combination of reduced sales through the credit crunch, but primarily the affect of supermarket giants like ASDA, TESCO and Sainsburys pricing them [...]