Debt Help Centre » IVA http://www.debthelpcentre.org.uk/blog Reduce Your Unsecured Debt Legally And Ethically Sat, 20 Feb 2010 09:10:08 +0000 http://wordpress.org/?v=2.8.4 en hourly 1 Beware of the no credit check credit cards with huge interest rates http://www.debthelpcentre.org.uk/blog/beware-of-the-no-credit-check-credit-cards-with-huge-interest-rates/ http://www.debthelpcentre.org.uk/blog/beware-of-the-no-credit-check-credit-cards-with-huge-interest-rates/#comments Sat, 20 Feb 2010 09:10:08 +0000 admin http://www.debthelpcentre.org.uk/blog/beware-of-the-no-credit-check-credit-cards-with-huge-interest-rates/ One of the most important things to remember when looking into taking out a credit card is the APR, the annual percentage rate. The APR is the amount of interest that you will pay per year on the amount that you borrow. The interest rates that do need checking in particular are those offered by companies who specialise in credit cards for those whose credit rating is poor.

Lenders do not normally want to take a risk on those who have an adverse credit rating. Of course, those who do suffer with a poor credit rating jump at the chance of obtaining a card and often fail to look into the details of the repayments and the APR.

It can be easy to get into debt over your head if you are paying a very high interest rate. If you have fallen foul of interest rates and have found yourself in debt with your card then maybe it is time to seek out iva advice, or consider entering into a debt management plan as a way of paying off your debts. Both of these could be ideal ways of repaying debts which you are struggling with, and which are affecting your lifestyle and your health.

]]> http://www.debthelpcentre.org.uk/blog/beware-of-the-no-credit-check-credit-cards-with-huge-interest-rates/feed/ 0 Longer interest free periods offered by credit card lenders http://www.debthelpcentre.org.uk/blog/longer-interest-free-periods-offered-by-credit-card-lenders/ http://www.debthelpcentre.org.uk/blog/longer-interest-free-periods-offered-by-credit-card-lenders/#comments Tue, 16 Feb 2010 03:18:04 +0000 admin http://www.debthelpcentre.org.uk/blog/longer-interest-free-periods-offered-by-credit-card-lenders/ Interest free periods are not unusual, they are offered by lenders to those who want to transfer their balance and have nothing to pay by way of interest for a certain period. Now it appears credit card lenders are even more competitive and the interest free periods are now longer, which encourages people to take on the cards. If you just use your card for balance transfers then it may not be such a bad deal. However if you spend, spend, spend on your new card this could lead to severe debt problems, and this is the mistake that many credit card owners who transfer make.

Individuals also have to be wary and ensure that they are able to pay off their credit card before the free interest period ends. Otherwise, the rates of interest are often particularly high which of course is when the majority of individuals begin to struggle with debt. In you have gotten over your head with your credit card repayments then you may wish to consider taking iva advice or consider entering into a debt management plan. Both are ideal ways to settle your debt over a period, in a monthly repayment that is affordable. If you have more than one credit card or you have unsecured loans, your debt management team will be able to work with your lenders and you then have only one repayment to meet each month.

]]> http://www.debthelpcentre.org.uk/blog/longer-interest-free-periods-offered-by-credit-card-lenders/feed/ 0 Credit card users hit with internet glitch http://www.debthelpcentre.org.uk/blog/credit-card-users-hit-with-internet-glitch/ http://www.debthelpcentre.org.uk/blog/credit-card-users-hit-with-internet-glitch/#comments Fri, 12 Feb 2010 03:16:18 +0000 admin http://www.debthelpcentre.org.uk/blog/credit-card-users-hit-with-internet-glitch/ Thousands of customers using Egg credit cards have suffered problems using their card to pay bills due to a glitch on the internet. Many people have to rely on their credit cards to pay monthly bills and for those using Eggs credit cards for the last 6 weeks they have been left high and dry. This may have seen many fall into arrears with payments and fall behind on their bills and into debt.

Using credit cards to pay bills is commonplace and this adds onto the debt accumulated on credit cards each month, which some then struggle to pay each month. If you have fallen into debt with credit card repayments, or indeed any form of unsecured debt then you need to give some thought to a debt management plan.

When taking out a debt management plan your debt team will work with you to get your creditors to agree to you repaying your debts over a certain period. You then have just one monthly sum of money to pay, which your debt management team spreads out for you to your creditors. If you stick with the debt management plan, you are able to clear your debts by the end of the plan and be debt free. You might also wish to take iva advice, depending on the amount of debt you owe.

]]> http://www.debthelpcentre.org.uk/blog/credit-card-users-hit-with-internet-glitch/feed/ 0 Is your credit card limit automatically increased? http://www.debthelpcentre.org.uk/blog/is-your-credit-card-limit-automatically-increased/ http://www.debthelpcentre.org.uk/blog/is-your-credit-card-limit-automatically-increased/#comments Sun, 07 Feb 2010 17:30:00 +0000 admin http://www.debthelpcentre.org.uk/blog/is-your-credit-card-limit-automatically-increased/ With the financial situation for many still being dire, more and more people are relying on their credit cards to see them through from month to month. Of course, many quickly reach their credit card spending limit. The majority of credit card companies will automatically increase your spending power and so the vicious circle continues as you max it out again. It can be so easy to be carried away with spending on credit cards, and so before you know it you may be over your head in debt and barely able to maintain even the minimum monthly repayment.

If you have found yourself in debt with your credit card or any form of unsecured debt then you can seek help with paying back your debts with a debt management plan. Another alternative you might wish to consider is an IVA, when considering this you might want to take iva advice with a specialist debt management team.

Both the IVA and the debt plan may be suitable ways to clear debt over a period. Stick with the plan and once the term has been reached you are debt free. Of course, you then need further advice on how to manage your money and work out a budget to remain debt free in the future.

]]> http://www.debthelpcentre.org.uk/blog/is-your-credit-card-limit-automatically-increased/feed/ 0 The credit card industry plans to offer changes to help individuals manage debt easier http://www.debthelpcentre.org.uk/blog/the-credit-card-industry-plans-to-offer-changes-to-help-individuals-manage-debt-easier/ http://www.debthelpcentre.org.uk/blog/the-credit-card-industry-plans-to-offer-changes-to-help-individuals-manage-debt-easier/#comments Wed, 03 Feb 2010 17:28:01 +0000 admin http://www.debthelpcentre.org.uk/blog/the-credit-card-industry-plans-to-offer-changes-to-help-individuals-manage-debt-easier/ The UK cards association, which is the credit card industry in the UKs umbrella organisation, has said that proposals have been submitted that would give consumers much better debt management options. Over 30 million of us hold credit cards in the UK and around 60% pay off their bill in full each month. Many of the other 40% only pay the minimum amount each month, which of course means that the debt takes longer to pay off. It can be so easy to keep adding onto the credit card, only to find that when the bill pops through the letterbox that you cannot afford to pay it off. If you continue to add to the debt using your card then of course debt accumulates and before you know it you may be over your head and unable to repay even the minimum repayment.

If you have fallen into debt with credit cards or other forms of unsecured loan then you can look for help paying off your debts with a debt management team, online. They may suggest you enter into a debt management plan, which allows you to pay off your debts over time. Depending on how much you owe in unsecured debts and IVA may be a more suitable choice. If you are considering entering into an IVA then seek iva advice so that you know what you are getting yourself into. Both solutions can help you to become debt free in a period and if you take money management advice you may be able to avoid the debt trap again.

]]> http://www.debthelpcentre.org.uk/blog/the-credit-card-industry-plans-to-offer-changes-to-help-individuals-manage-debt-easier/feed/ 0 Start off the New year with a debt management solution in place http://www.debthelpcentre.org.uk/blog/start-off-the-new-year-with-a-debt-management-solution-in-place/ http://www.debthelpcentre.org.uk/blog/start-off-the-new-year-with-a-debt-management-solution-in-place/#comments Sat, 30 Jan 2010 14:35:01 +0000 admin http://www.debthelpcentre.org.uk/blog/start-off-the-new-year-with-a-debt-management-solution-in-place/ If money worries are at the top of your list then you may want to look into ways of paying of your credit card and loan debts. Debt is no fun, it can destroy your peace of mind and happiness, be the cause of worry and despair, has been known to break up familys and is extreme cases be the cause of suicide. However, none of scenarios above may be necessary if you take debt advice and information with a debt management company.

One of the solutions you may wish to consider is a debt management plan. With the debt management plan along with the help of your team, you may be able to enter into an agreement to repay your unsecured debts over a period.

Another option is to choose an IVA, however if you are considering entering into this you need to take iva advice as it is essential to know what you are taking on and whether this might be the most suitable option for your needs.

Choose a debt management team online and allow them to help you reach a decision over the most suitable plan for your debt problem. Never think that you are alone in suffering debt and poor money management as there are hundreds of individuals in the UK suffering the same.

]]> http://www.debthelpcentre.org.uk/blog/start-off-the-new-year-with-a-debt-management-solution-in-place/feed/ 0 Shop around for the best credit card deals but spend wisely http://www.debthelpcentre.org.uk/blog/shop-around-for-the-best-credit-card-deals-but-spend-wisely/ http://www.debthelpcentre.org.uk/blog/shop-around-for-the-best-credit-card-deals-but-spend-wisely/#comments Tue, 26 Jan 2010 14:33:06 +0000 admin http://www.debthelpcentre.org.uk/blog/shop-around-for-the-best-credit-card-deals-but-spend-wisely/ Credit cards are ok for the odd emergency that may crop up or for times when we simply cannot get to the bank. if you are able to keep on top of your credit card spending and pay off your balance each month then all well and good. However if you have to pay interest on the money you borrow this is when problems may arise and debt may build up. If you want a credit card then shop around for the lowest rate of interest and the most suitable deal for your circumstances as interest rates can vary greatly.

There are numerous lenders all tempting individuals to take on credit cards and debt. Invitations even drop through the letterbox as a regular occurrence. 0% interest on transfers and cash back are a huge incentive to sign up and gain another piece of plastic. However, each year thousands of individuals fall into debt with credit cards and other unsecured debts leaving them with a huge headache.

If you are in debt then you may take iva advice or look into a debt management plan as ways of paying off money you owe over time. While it may be possible to repay thousands of pounds of debt this way, prevention is always better than the cure. Therefore think twice and if you have to take on a card use it to spend wisely.

]]> http://www.debthelpcentre.org.uk/blog/shop-around-for-the-best-credit-card-deals-but-spend-wisely/feed/ 0 Don`t let your debts turn you suicidal http://www.debthelpcentre.org.uk/blog/dont-let-your-debts-turn-you-suicidal/ http://www.debthelpcentre.org.uk/blog/dont-let-your-debts-turn-you-suicidal/#comments Fri, 22 Jan 2010 14:32:30 +0000 admin http://www.debthelpcentre.org.uk/blog/dont-let-your-debts-turn-you-suicidal/ Harbouring large debts can be very stressful and the Daily Mail has recently reported that in one womens case, large debts led to her suicide when she jumped from a tower block rather than admit to her new husband that she had accumulated over 25,000 in bank and credit card debt. Her partner is now asking that anyone faced with debts talk them over with their partners and seek debt advice.

If you have built up debts that are unsecured, there are ways with the help of a specialist debt management team, that you may be able to pay them off at an affordable rate. A debt management plan for instance might be arranged with help from a debt management team. When you enter into the plan, you agree to pay one lump sum each month to your debt management team who then spread it out amongst those, you owe money.

An IVA works in a similar way and if this is what you might be considering then you need to take iva advice, again you are able to seek the help of a specialist debt management team. Debts may build up and build up and before you realise it they may be impossible to maintain. However it is essential to remember that you are not alone and there is help out there.

]]> http://www.debthelpcentre.org.uk/blog/dont-let-your-debts-turn-you-suicidal/feed/ 0 Consumers turn to plastic to escape economic troubles http://www.debthelpcentre.org.uk/blog/consumers-turn-to-plastic-to-escape-economic-troubles/ http://www.debthelpcentre.org.uk/blog/consumers-turn-to-plastic-to-escape-economic-troubles/#comments Mon, 18 Jan 2010 14:31:59 +0000 admin http://www.debthelpcentre.org.uk/blog/consumers-turn-to-plastic-to-escape-economic-troubles/ Statistics show that more and more individuals are turning to the use of credit cards to escape economic troubles and the lack of ready cash. However, this is an expensive option when looking for credit. Overall credit card debt has risen by just over 1billion bringing the total amount of credit card debt to just over 55 billion. When combined with unsecured loans the total amount of borrowing tops 238 billion.

If you are one of the many who owe towards this staggering amount, you may wish to consider looking for debt advice. There are ways you are able to restructure your debts and pay them off over time. For instance, you may wish to enter into an IVA as a way of repaying your debts. A debt management team can help you set up an IVA and provide you with all the advice and help needed for you to be able to write debt off. Depending on the severity of your unsecured debts, you might also consider a debt management plan. Again seeking the help and advice with a specialist is essential if you wish to find the most suitable solution to your debts problem.

]]> http://www.debthelpcentre.org.uk/blog/consumers-turn-to-plastic-to-escape-economic-troubles/feed/ 0 Watch the interest rates on store cards http://www.debthelpcentre.org.uk/blog/watch-the-interest-rates-on-store-cards/ http://www.debthelpcentre.org.uk/blog/watch-the-interest-rates-on-store-cards/#comments Thu, 14 Jan 2010 14:30:01 +0000 admin http://www.debthelpcentre.org.uk/blog/watch-the-interest-rates-on-store-cards/ The Citizens Advice is warning people to be very careful when it comes to spending on store cards. In some cases, interest rates were very high which may lead to consumers having to deal with an enormous amount of debt. Store cards are very popular in many of the big name department stores and it is very easy to get carried away with spending when it is so easy just to hand over a piece of plastic.

Of course, store cards are just one of the reasons why you may build up debt and require debt help. Over spending on credit cards, home shopping catalogues and taking out unsecured loans cause huge amount of debts to build up too, however there are ways you can pay off your debts by whatever means you have incurred them. You may choose to go with a debt management team who may be able to set up a debt management plan or an IVA.

If you want help and advice on debt management or iva help then you are able to get in touch with a specialist in debt management online. When entering into either of the plans to pay off your debt you are able to become debt free in a fixed period.

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